Beyond Meat pushes back on The Street contention company ‘headed to’ bankruptcy

Daniel Kline, co-editor-in-chief of TheStreet, argued in a story published on August 14 that given how Beyond Meat (BYND) has reported “falling sales and dwindling cash,” that the plant-based meat company is “headed to Chapter 11 bankruptcy.” In the story, Kline also said that Beyond Meat “admitted it’s in trouble by hiring corporate restructuring expert John Boken from consultancy AlixPartners as interim chief transformation officer.” The company “does have time to fend off a Chapter 11 bankruptcy filing, but it also has limited, if any, prospects to meet its impending cash needs,” Kline added. In an apparent reply, Beyond Meat stated via X: “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.”