Plant-based meat products seller Beyond Meat, Inc. (BYND) is currently facing administrative issues. Recently, the company’s COO Douglas Ramsey was arrested and consequently suspended over allegations of biting a man’s face after a University of Arkansas American football game in Fayetteville. Moreover, Bernie Adcock announced that he would step down as its chief supply chain officer.
On top of it, alternative protein brands are witnessing sales declines. Fake meat brands are expensive compared to traditional proteins. Therefore, with food inflation reaching 11.4% in August, shoppers seem to opt for cheaper options.
