A ‘challenging business environment’ has led German vertical farming company Infarm to close some of its production sites worldwide and halve its total workforce of around 500 employees.
The business, which has seen meteoric growth since it was established in 2013, said escalating energy prices and tough financial markets was causing it to adapt its ambitious targets and seek greater efficiencies. Steps already taken in 2021 had assumed a quick market recovery, it said, but its assessment had been ‘too optimistic’.
Its revised plan sees consolidation of its ‘growing centres’ to Germany, Denmark and Canada, where it has ‘established strong retailer relationships and secured contracts of significant volume.’ It proposes to downsize its operations in France, the Netherlands and the UK. What impact this will have on the growing centre opened in Bedford in 2022 and on the 19 instore units operated in UK retail stores is as yet unclear.