Allplants - Administration

Allplants, an East London-based vegan meal kit company, entered administration on 22 November.

The company was founded in 2016 and grew to having its products available online and via over 100 partner retail outlets.

Allplants has faced trading headwinds in recent years, including rising food, transport and energy costs and the impact of fragile consumer confidence in the wake of the cost-of-living crisis.

After a period of sustained losses, the directors sought to explore their strategic options, including exploring the possibility of a sale or refinancing. However, when a solvent solution could not be found, they took the difficult decision to seek the appointment of Will Wright and Howard Smith of Interpath as joint administrators.

The joint administrators intend to trade the business for a short period in order to sell all remaining stock. Unfortunately, however, production at the company’s manufacturing site has ceased, and a total of 65 members of staff have been made redundant.

Triplepoint Private Venture Credit has a registered charge against the company.