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5d ago

Beyond Meat Nears Chapter 11 Filing Under Heavy Debt Burden

The company reported a 20% second-quarter revenue drop with just $117 million in cash to cover $1.2 billion in debt.

Beyond Meat's products were meant to mimic the taste, texture, and cooking experience of animal-based meat.
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Beyond Meat Heads for Chapter 11 Bankruptcy

Overview

  • Reports citing legal filings say Beyond Meat has filed or plans to file for Chapter 11, while the company publicly denies any bankruptcy intentions.
  • Second-quarter revenue fell about 20% year-over-year to $75 million as U.S. plant-based protein sales continued to soften.
  • The company holds roughly $117 million in cash against approximately $1.2 billion in convertible debt maturing in 2027 and has begun talks with bondholders on restructuring.
  • Beyond Meat has appointed John Boken of AlixPartners as interim chief transformation officer and cut about 44 North America jobs to trim operating costs.
  • Management aims to reach EBITDA-positive operations by the second half of 2026 through enterprise-wide cost reductions and margin expansion measures.