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New Zealand plant-based “meat” business Sunfed’s chief executive and founder Sukul Lee says she is in the process of shutting it down.
The business has been running since 2015, aiming to provide meat alternatives.
The products are sold in New Zealand and Australia.
But Lee posted a video to the business Facebook page on Monday saying the inventory was now being run down and the stock was no longer available in Woolworths Australia.
In New Zealand, remaining stock would run out in two months, she said.
She said the business had not been able to move to a position where it had a positive cashflow. The pandemic had put the business under pressure due to staff shortages, supply chain problems and skyrocketing costs, and the business was “very lean for far too long”, she said.
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