"The company does have time to fend off a Chapter 11 bankruptcy filing," Kline wrote, "but it also has limited, if any, prospects to meet its impending cash needs." The company has just $117.3 million in cash or equivalents, and debts of $1.2 billion.

The company announced layoffs and other cost-cutting measures, along with expanded distribution of the products that people are less interested in buying.

Yes, that's a real thing that happened.

"Retail sales of refrigerated plant-based meat alternative products in the US have fallen 17.2% so far this year, and frozen plant-based meat alternatives have fallen 8.1%," Reuters added, and "growing concerns about processed foods are severely diminishing the appeal of Beyond Meat's product line."

How much appeal was there to begin with, though?

Plant-based "meat" sales were estimated at just $3.4 billion in 2024. Total US beef sales last year are estimated to be $108 billion. And keep in mind that those figures aren't a ribeye-to-ribeye comparison. Fake meat typically costs about twice as much per ounce as the real thing—although perhaps not this year, during a painful beef shortage—so we aren't talking about similar units of stuff.

The Wayback Machine: 'Plant-Based Peanut Butter' Is a Thing People Buy, and I Can't Stop Laughing

In other words, $3.4 billion in fake meat is about the same amount of actual food as $1.7 billion worth of the real deal. And please accept my sincerest apologies for stretching the meaning of "actual food" beyond recognition. Subscribe for free to Breaking Christian News here

And the health benefits? Not so great, as I wrote last year...

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