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A Costco-favorite plant-based food firm has joined the fast-food industry's 2023 bankruptcies.
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The Tattooed Chef declared bankruptcy last week due to "a challenging financial environment and a failure to raise additional capital." It will liquidate all its assets and lay off an undisclosed number of California and New Mexico workers.
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The Tattooed Chef sells cauliflower-crusted pizzas and vegetable burgers. Costco buyers love the brand, which sells at Walmart and Target.
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Members love Organic Riced Cauliflower Stir Fry and Mexican Style Street Corn. Tattooed Chef's Organic Açai Bowls are among Costco's top freezer buys, according to expert chefs. After declaring bankruptcy, the company's future is uncertain.
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I'm grateful to Tattooed Chef's team for shaping this amazing journey and introducing plant-based foods and healthy eating to customers nationwide.
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Despite their dedication to our purpose and our best attempts to keep Tattooed Chef running, a difficult funding environment and inability to secure finance have plagued our firm.
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The bankruptcy filing and asset sale "will allow us to provide clarity on the prospects of the Company for all our stakeholders."
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Tattooed Chef goods may still be available at Costco. The Tattooed Chef plans to continue operations during bankruptcy, and loyal consumers might hope the process will give the company the resources it needs to survive.
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The Tattooed Chef joins several food and kitchen equipment companies that have filed for Chapter 11 bankruptcy this year. Last month, Instant Pot, Pyrex, and CorningWare filed for Chapter 11 bankruptcy.
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Do Good Foods, a sustainable meat company, also declared bankruptcy. Despite not filing for bankruptcy, Tupperware warned in April that company may go out of business due to a sales slump.
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