Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives

24 employees made redundant as VBites falls into administration

Food Ingredients First 2023-12-19
Share       

According to latest reports, VBites, a vegan food business owned by Heather Mills, has fallen into administration, with 24 employees across the business being made redundant. 

The BBC has shared that the plant-based company has blamed “rising raw material costs and energy” prices.

After establishing the business in 1993, founder Mills, ex-wife of Sir Paul McCartney. then acquired the supplier Redwood Wholefood Company in 2007. Its website claims VBites was “established long before the current trend in plant-based startups” and branded itself as “the leading makers of meat-free, vegan meat substitutes”.

Download our NEW 2024 Media planner

Partner with New Food to showcase your expertise to elite professionals in the food and beverage sector. Collaborate with our marketing team to develop a multi-channel plan and create content that communicates your thought leadership, resonates in the marketplace, and reaches your target audience. Distributing content through our unique network of print and digital media to maximize your reach and establish your position as a go-to provider, and strengthen your influence within the market.

Make sure you are a part of the 2024 collaboration.

DOWNLOAD NOW

Though Statista notes the global vegan food market is expected to reach a value of over 22 billion US dollars in 2025, companies such as VBites have had to contend with consumers altering their shopping habits throughout 2023, a year when food inflation hit a 45 year high.

Between 2014 and 2019 the number of vegans in Great Britain quadrupled and reached 600,000, according to The Vegan Society. However, New Food previously reported that Pret a Manger was “closing the majority” of its vegetarian stores due to low demand in early 2023, suggesting the demand for plant-based products from UK consumers has dwindled throughout the year.

Five food trends to look out for in 2023

 

Produced in the UK, VBites has been creating vegan food products including meat, fish and dairy alternatives for over 25 years.

Speaking to the BBC, Mills explained the business’ collapse is “extremely distressing for [her] on a personal level but also for [her] wonderfully loyal and hard-working staff”.

According to Mills, she had previously invested “tens of millions of pounds into the business” in an attempt to generate “every solution [she] feasibly could to keep it going, but sadly [her] and [her] staff’s efforts have been thwarted”, the BBC reported.

Interpath Advisory administrators were reportedly appointed on Monday 11 December following “talks to raise new funding for VBites collapse”, the BBC shared. In the meantime, VBites “would continue to trade from the site in Peterlee whilst it looked for a buyer for the business and its assets”.

New Food has approached VBites and Interpath Advisory for a comment and will keep its readers updated with any developments. 

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

Recommended Products

Probiotics DHA-1/DHC-1/DHS-1

Probiotics DHA-1/DHC-1/DHS-1

d-alpha tocopherol(1000iu-1400iu)

d-alpha tocopherol(1000iu-1400iu)

VM(Q)400TE Vacuum Packager

VM(Q)400TE Vacuum Packager

Top

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121