Believer Meats Nearly $225M in Debt Before Shutdown, Shows Bankruptcy Filing

Believer Meats Nearly $225M in Debt Before Shutdown, Shows Bankruptcy Filing

4 Mins Read A bankruptcy filing by Israeli cultivated meat firm Believer Meats has revealed that the company was nearly $225M in debt, and sheds light on how approval delays stalled its financing efforts. Weeks after Believer Meats abruptly announced its closure, the cultivated meat startup’s insolvency application has been approved by the Lod District Court in Israel. The company has appointed Gissin & Co attorney Yoel Freilich as a temporary t…

Insolvency filing lifts lid on Believer Meats’ mounting costs and stalled scale-up

The Lod District Court in Israel has approved an application from cultivated meat startup Future Meat Technologies Ltd (doing business as Believer Meats) to open insolvency proceedings and appointed a trustee to represent the interests of its creditors. According to media reports in Israel, Yoel Freilich, an attorney at law firm Gissin & Co, has been authorized as trustee to manage the company’s assets, while the court also issued a 40-day stay …