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  • Writer's pictureAllan

Hopeless Farm?

It hasn’t been hard this week to find striking, sad images in the news but there’s one recurrent picture in my head this week that I haven’t been able to dismiss. It’s a snapshot of Meatless Farm’s p&l published in The Grocer.

As one commentator in The Grocer article says, the numbers generally are “unbelievably bad”. The relative scale of overhead spend is frightening enough – many similarly sized food businesses might take years to consume what Meatless Farm did in any given year. What has really stuck with me this week though is the cost of sales figures: Meatless Farm at gross margin was making nothing! In fact, over the three years in the picture, less than nothing.

While the sad, shocking outcome for employees and investors, and how it came about, is addressed in The Grocer article, I’m still left puzzling over how the business ran zero gross margin for any time at all.

Personally, I liked Meatless Farm products when I tried them shortly after launch and was keen to see them do well. It’s such a shame that the business crashed, but now with the VFC rescue, there is at least some good news and some hope.

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