Atlantic Natural Foods Files for Chapter 11 Bankruptcy
Atlantic Natural Foods LLC, which makes shelf-stable, plant-based protein foods under the Loma Linda, Tuno, Neat and Kaffree Roma brands, has filed for Chapter 11 bankruptcy after 135 years in business. The company was founded in 1890 by John Harvey Kellogg and was popular in Seventh-day Adventist communities, where members sought vegetarian substitutes for popular animal meat-based foods.
Bankruptcy proceedings were initiated in early April in Louisiana. The company’s assets were valued between $10 million and $50 million against liabilities between $1 million and $10 million. The company seeks to reorganize its business within five months.
The catalyst for the bankruptcy was not publicized, but it is worth noting that the company withdrew from a pending transaction and partnership with Above Foods late last year, after three years of work to go public with the partnership. Both companies mutually agreed to the calling off of the deal while retaining shares and/or interest in the other.
According to AdventistToday.org, the Loma Linda brand’s meat substitutes have been staples in kitchens of those transitioning to a vegetarian diet as they join the movement. The site noted that a loss of the Loma Linda brand would be a significant loss to Adventist culture if it should disappear.
