Plant-based meat pioneer Beyond Meat Inc (NASDAQ:BYND) is under financial pressure after reporting a sharp decline in sales and a cash crunch, though the company denied reports it has filed for bankruptcy.
According to reports, Beyond Meat is facing a potential Chapter 11 filing following second-quarter 2025 sales that fell nearly 20% year-over-year, highlighting weakness in US retail channels and select international markets.
The company’s shares were down 4.3% on Friday.
Beyond Meat took to its X account to dismiss the reports, saying: “Recent media stories suggesting that Beyond Meat filed for bankruptcy are unequivocally false. We have not filed nor are we planning to file for bankruptcy. Go Beyond.”
The company reported cash and cash equivalents of $117.3 million as of June 28, 2025, against total outstanding debt of $1.2 billion, raising concerns over its ability to meet upcoming financial obligations.
“Although we continue to have no near-term debt maturities in line with our strategic priorities for the year, we continue to focus on strengthening our balance sheet, including evaluating potential transactions to address our existing convertible notes prior to maturity in 2027,” CFO Lubi Kutua told investors.
Beyond Meat, once credited with creating the market for meat-like plant-based products, faces mounting competition in a slowly growing niche. US plant-based meat sales grew from roughly $939 million in 2019 to an estimated $3.4 billion in 2024, and are projected to reach $6.14 billion by 2030, according to research firms IMARC Group and Grand View Research.