Shark Tank Vegan Pet Food Startup Wild Earth Files for Bankruptcy, Founder Says ‘It’s Not the End’

Vegan pet food startup Wild Earth, known for its plant-based products, has filed for Chapter 11 bankruptcy in North Carolina. Despite facing financial challenges and being unable to secure more venture investors, co-founder Ryan Bethencourt remains optimistic about the brand's future, calling the bankruptcy filing a restructuring opportunity rather than the end of the business.

The company, which gained popularity after a successful appearance on Shark Tank and an investment from Mark Cuban, has struggled with debt and decreased sales in recent years. The filing indicates that Wild Earth's supply chain was disrupted by COVID-19, inflation has impacted sales, and the company's products are priced higher than conventional pet food. Despite these challenges, Bethencourt believes there is still potential for Wild Earth to succeed by focusing on cost-efficient growth and expanding into new retail markets.