Eider Vertical Farming has become the latest business in the controlled-environment agriculture space to collapse. FRP Advisory Trading said it was appointed as joint administrators for the UK-based company, better known as Eider VF, on 15 May. David Shambrook and Philip Armstrong have been named as advisers to oversee a “process of marketing the business and assets for sale”.
Set up in 2019 and headquartered in the English village of Kempsey in the county of Worcestershire in the English Midlands, Eider VF marketed leafy greens grown in a controlled-indoor environment. “The business entered into administration after a period of challenging trading conditions left it unable to meet its financial obligations as they fell due,” FRP said in a statement provided to Just Food.
“The business ceased trading on appointment and the 17 staff were made redundant.” Eider VF joins a number of vertical-farming businesses that have either ceased trading or have been forced to restructure. Most recently, Infarm in Germany announced an extended downsizing exercise in May with a decision to quit its home markets in Europe to focus on North America.
Once regarded as a pioneer in the industry, the Berlin-based company first revealed its restructuring plans last November. At the time, Infarm cited “challenging market conditions, particularly with regards to escalating energy prices and tough financial markets” in an announcement that was accompanied by plans to lay off around 500 workers.
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