Beyond Meat Rumored To File Chapter 11 Bankruptcy

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Beyond Meat Rumored To File Chapter 11 Bankruptcy Plant-Based Beyond Meat Rumored Bankruptcy, They Deny

According to TheStreet.Com, Beyond Meat, the plant-based meat company has reported falling sales and dwindling cash. Beyond Meat recently hired a corporate restructuring expert and has let go of 44 employees in North America (6% of its global workforce). Sales in the second quarter dropped by nearly 20% year-over-year.

Beyond Meat pushed back against rumors that it has filed bankruptcy, calling recent media reports "unequivocally false.” The statement comes amid a highly publicized and difficult financial period for Beyond Meat.  The company, which played a key role in establishing the market for hyper-realistic meat analogues when it launched in 2009, has seen sales stagnate as the market becomes more competitive and consumers move away from “ultra-processed” alternative proteins.

REFERENCES:

https://www.thestreet.com/restaurants/beyond-meat-is-headed-to-chapter-11-bankruptcy

https://plantbasednews.org/news/economics/beyond-meat-denies-filing-for-bankruptcy/

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