The US company whose customers include McDonald’s and KFC and which sells its products to leading supermarkets in the UK, reported a second-quarter sales drop of 30 per cent year on year.
Beyond Meat floated in 2019 , its shares surged from €25 to €235 within 10 months, valuing the firm at around 14bn. Since then, the shares have nose-dived by 95 per cent to trade at €11. Another company in trouble is the vegan-chicken startup Nowadays, which recently folded due to its inability to raise funds in the US.