![]() Article contentīut in the UK, two up-and-coming companies recently appointed administrators: The Meatless Farm laid off staff at its headquarters in Leeds, while Plant & Bean got hit by soaring food and energy prices just two years after opening a mega factory in Lincolnshire. This advertisement has not loaded yet, but your article continues below. Fewer players means resources will be more concentrated and survivors will control more of the available shelf space, he added. “You probably need a bit of a clear out in some of these categories to allow winners to come through,” said Mark Lynch, a partner at Oghma Partners in London, a corporate-finance advisory specializing in the food and beverage sector. Industry observers say more turmoil is coming before the sector stabilizes. With shoppers put off by excessive processing, nutritional value and taste, a growing list of alternative-protein companies are shutting down, laying off staff and selling themselves. ![]() That’s hitting a crowded field, which had mushroomed after the early success of Beyond Meat Inc. Please try again Article contentĪs money flows less freely due to surging interest rates, investors have sharply pulled back funding just as inflation increases production costs and makes consumers more selective about their food choices. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder.
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