Plant-based meat firm calls in administrators
A food manufacturer that produces 55,000 tonnes of plant-based meat alternatives a year from a huge facility in Lincolnshire called in administrators late last month.
Plant and Bean, which also has a production site in Bubwith, North Yorkshire, created around 500 jobs when it opened its factory on New Hammond Beck Road in Boston – the largest facility of its kind in Europe – in 2021.
However, on 25 May, Plant and Bean posted a notice of intention to appoint administrators. This was followed on 31 May by Interpath Advisory being formally appointed as administrators to the company.
Plant and Bean’s last available accounts, made up to the end of 2021, show the company owed its creditors £9m and was forced to take out a bank loan of around £2m that year.
Sam Metcalf | The BusinessDesk.com
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