Thursday, July 18, 2024

Beyond Meat loses its lustre


 

Beyond Meat, the darling of the United States investment community several years ago, wants relief from more than $1 billion in debt.


The Wall Street Journal reports the company is in negotiations with bondholders.


It also notes than in its last quarterly report, its cash reserves had declined to less than $175 million.


Beyond Meat made by far the biggest splash in the plant food launch of modern versions of vegetarian burgers.


Maple Leaf Foods was among large meat-packing companies that invested heavily in producing plant-based protein meats.