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Beyond Meat, the purveyor of plant-based meat substitutes, has engaged with a group of bondholders to initiate discussions about a balance-sheet restructuring, according to people familiar with the matter.
The Los Angeles-based company's liquidity has diminished over the past several quarters as it continues to burn cash. The group of bondholders, which has interests in Beyond Meat's $1.1 billion of convertible notes, is working with the law firm Akin Gump Strauss Hauer & Feld, the people familiar with the matter said. The company is represented by Latham & Watkins.
Posted In: BYND
