Latest news with #BeyondBeef
Hindustan Times
2 days ago
- Business
- Hindustan Times
Beyond Meat Chapter 11 bankruptcy protection: Why plant-based meat company is facing troubles
Beyond Meat is struggling to stay afloat. On August 10, reports confirmed that the company, known for making plant-based meat substitutes, has filed or is headed to file for chapter 11 bankruptcy protection, the law office of John T Orcutt, a North Carolina bankruptcy lawyer noted. Beyond Meat's products were meant to mimic the taste, texture, and cooking experience of animal-based meat.(Reuters) Beyond Meat's products were meant to mimic the taste, texture, and cooking experience of animal-based meat. Like Beyond Burger or Beyond Beef, their products too are made from proteins derives from plants, fats, and other ingredients that replicate the experience of having meat. The law office noted that the company's decline stems from fall in sales, mounting debt, and stiff competition, all the while having to deal with a reality that many still prefer eating meat. Why Beyond Meat is filing for bankruptcy protection Beyond Meat has reported a consistent decline in year-on-year revenue, due to a slowdown in the plant-based meat market, the lawyer's office noted. Its second quarter revenue fell by 20 percent, missing the Wall Street estimates by a wide margin. Meanwhile, for the quarter ending June 28, revenue dropped to around $75 million as compared to the anticipated $82 million. The offices of the lawyer further noted that refrigerated plant-based meat sales in the US are down 17.2 percent, while frozen alternatives have fallen 8.1 percent. The company also accrued over $1.2 billion in outstanding debt. Beyond Meat had only around $117 million in cash as of mid 2025. The bankruptcy lawyer noted that the bulk of this debt was from convertible bonds which were issued in 2021 and mature in 2027. Since the company's stock price has collapsed (down to less than 3 percent of its peak value), Beyond Meat is unable to convert its debt and needs to repay the principal in cash funds, which it does not have. This puts the company on the path to default. Notably, Beyond Meat has been in talks with bondholders to explore debt restructuring. Why Beyond Meat faced problems The lawyer's office posited that Beyond Meat faced issues due to the market getting crowded with competitors. Consumers are also shifting away from highly-processed plant-based alternatives to whole-food options like lentils or tofu. This shift in consumer preferences, combined with increased skepticism about processed foods, and scrutiny from nutritionists ended up hurting Beyond Meat's appeal, the lawyer's office stated. While Beyond Meat tried securing new financing and introducing reformulated products, the perfect storm of market conditions and consumer preferences led to a situation where even aggressive restructuring efforts were unable to bridge the widening gap.
Yahoo
14-05-2025
- Yahoo
NBC 4 reporter has a 'Goldilocks' moment after finding naked man in his bed
The break-in felt like something out of "Goldilocks and Three Bears," at least that's how Michael Duarte tells it. Duarte, an NBC 4 sports writer, told his news station that he had been away from home for a few days and returned this past Saturday to find someone had broken into his Echo Park home. Duarte said he could see through a glass door in the back of his home that the kitchen had been ransacked. At first, he thought a wild animal had made its way inside and damaged things, but a broken glass panel next to the doorknob indicated a break-in. 'I thought someone had broken into my home, robbed me and left,' he told the station. Duarte could not immediately be reached by phone at the news station or through his Instagram account. When Duarte made his way to the front door, he told the station that he noticed another glass panel had been broken and in the distance he noticed something peculiar. It wasn't a bear, just a naked man, sleeping on his bed. 'To see a man not just sleeping in my bed, but completely naked sleeping in my bed … I was shocked,' he said. 'Like Goldilocks from the Three Bears, and someone's sleeping in my bed instead of the little bear.' Read more: Naked man arrested after walking around Disneyland's New Orleans Square Duarte told a friend waiting in a car with his pets to call police, who arrived to arrest the man. As the man was being led away in handcuffs, he threatened to kill him and his friend, according to Duarte. A spokesperson for the Los Angeles Police Department did not immediately respond to the Times inquiry on the arrest. Shortly after the intruder's arrest, Duarte began to survey the damage in his home. He said the man appeared to have been in his home for many hours, helping himself to food in his fridge. 'He ate a box of ice cream sandwiches, he ate Dole whip, a whole box of Beyond Beef burgers he stuffed in the microwave and cooked them,' Duarte said. The man also found Duarte's stash of chewing gum. 'I had a fresh pack with 60 inside, unopened,' he told NBC. 'He opened it up, chewed all of them and then spit a big wad of gum about … the size of a softball.' On the back patio, he said the man used a statue to kill a possum and found bags containing what he suspects were drugs. The odd break-in underscores the recent jump in property break-ins in the area patrolled by LAPD's Rampart Station, according to LAPD's latest crime statistics. From March 16 to May 10, there was a jump in burglaries and break-ins from 23 incidents to 33, a 43% rise. Despite the increase, property crimes remained at 114 incidents compared to last year when there were 217 reported cases. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Los Angeles Times
14-05-2025
- Los Angeles Times
NBC 4 reporter has a ‘Goldilocks' moment after finding naked man in his bed
The break-in felt like something out of 'Goldilocks and Three Bears,' at least that's how Michael Duarte tells it. Duarte, an NBC 4 sports writer, told his news station that he had been away from home for a few days and returned this past Saturday to find someone had broken into his Echo Park home. Duarte said he could see through a glass door in the back of his home that the kitchen had been ransacked. At first, he thought a wild animal had made its way inside and damaged things, but a broken glass panel next to the doorknob indicated a break-in. 'I thought someone had broken into my home, robbed me and left,' he told the station. Duarte could not immediately be reached by phone at the news station or through his Instagram account. When Duarte made his way to the front door, he told the station that he noticed another glass panel had been broken and in the distance he noticed something peculiar. It wasn't a bear, just a naked man, sleeping on his bed. 'To see a man not just sleeping in my bed, but completely naked sleeping in my bed … I was shocked,' he said. 'Like Goldilocks from the Three Bears, and someone's sleeping in my bed instead of the little bear.' Duarte told a friend waiting in a car with his pets to call police, who arrived to arrest the man. As the man was being led away in handcuffs, he threatened to kill him and his friend, according to Duarte. A spokesperson for the Los Angeles Police Department did not immediately respond to the Times inquiry on the arrest. Shortly after the intruder's arrest, Duarte began to survey the damage in his home. He said the man appeared to have been in his home for many hours, helping himself to food in his fridge. 'He ate a box of ice cream sandwiches, he ate Dole whipped, a whole box of Beyond Beef burgers he stuffed in the microwave and cooked them,' Duarte said. The man also found Duarte's stash of chewing gum. 'I had a fresh pack with 60 inside, unopened,' he told NBC. 'He opened it up, chewed all of them and then spit a big wad of gum about … the size of a softball.' On the back patio, he said the man used a statue to kill a possum and found bags containing what he suspects were drugs. The odd break-in underscores the recent jump in property break-ins in the area patrolled by LAPD's Rampart Station, according to LAPD's latest crime statistics. From March 16 to May 10, there was a jump in burglaries and break-ins from 23 incidents to 33, a 43% rise. Despite the increase, property crimes remained at 114 incidents compared to last year when there were 217 reported cases.
