Meatless Farm, a company facing financial collapse, has been given a lifeline by VFC, a meat-free startup.
After laying off most of its employees and going into administration due to unsuccessful attempts at securing new investments, Meatless Farm is now being saved by VFC. In a message to Meatless Farm’s customers and suppliers, VFC described the collaboration as a valuable opportunity to combine the two businesses, leading to innovation in the plant-based food industry.
This rescue operation will enable Meatless Farm to reintroduce its products to supermarket shelves. Unfortunately, the 50 employees from the Leeds branch who were previously let go are unlikely to regain their positions.
According to a letter, seen by The Grocer, VFC CEO Dave Sparrow said: “The Meatless Farm brand boasts high consumer recognition, a dynamic range of products, robust R&D capabilities, and a mission that dovetails perfectly with that of VFC.”
“We firmly believe that this development will yield considerable benefits for our valued customers, suppliers, and consumers.
“Please rest assured that our collective leadership and all team members are wholly committed to maintaining business as usual.”