Meatless Farm appoint insolvency firm as staff made redundant
Plant-based meat manufacturer Meatless Farm have made staff redundant and appointed insolvency firm Kroll to oversee operations.
The company was stocked in major UK supermarkets and sold over £11 million of plant-based meat in 2021. Now, their website simply reads “site currently unavailable”.
In 2022, Meatless Farm accounted for 1.2% of the market, whereas their competition Beyond Meat accounted for 3.3%. Meatless Farm isn’t the only vegan food company to see a decrease in sales; according to research by NielsenIQ, sales of meat-replacement products fell £37.3 million (7.4%) in 2022.
On his LinkedIn profile, commercial director Tim Offer said: “Sadly, my time at Meatless Farm has come to an end. After a fantastic 10 months leading a talented and highly engaged sales team, the business has unfortunately made all the teams redundant.”
John Loughrey, interim finance executive, said: “Sadly things have not worked out for Meatless Farm so I am now looking for my next assignment.”
Euromonitor industry manager and food researcher Tom Rees told BBC News: “We’ve had a real glut of products on the market with supermarkets pushing their own ranges and outstanding brands. Now consumers have decided which ones they like.”