Vegan food manufacturer Meatless Farm have made staff redundant, insolvency firm Kroll will now advise the company on its options.
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”.
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.”
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.
