Vegan firm Meatless Farm has let its 50-strong workforce go amid a slump in demand for plant-based food.
The company made vegan alternatives to meat products, and during its peak in 2021, it sold over £11m worth of food to retailers.
Fast forward two years, and Meatless Farm has stopped trading and made its staff redundant, with insolvency firm Kroll now advising the company.
It comes as vegan and plant-based alternatives see a dramatic decline in popularity.
Last month, sausage producer Heck confirmed it will cut down on its range of vegan products due to a lack of consumer interest.
And Innocent Drink announced it would stop its dairy-free range products after five years on the market.
Meatless Farm's commercial director, Tim Offer said on his Linkedin profile: "Sadly, my time at Meatless Farm has come to an end... the business has unfortunately made all the teams redundant."
According to recent AHDB research, consumer appetite for vegan products fell short during this year's 'Veganuary', in January.
Analysis showed that over a million fewer households bought meat-free products compared to January 2022, and 280,000 fewer households bought dairy-free.
