A plant-based meat manufacturer has made the majority of its staff redundant amid a drop in demand for vegan products.

Meatless Farm, which makes vegan sausages, mince, and burgers, hired restructuring specialists Kroll in May in hopes of finding a buyer for the business as it faced running out of cash.

The company, whose LinkedIn indicates employs around 100 staff, let go of many of them on Friday, according to sources close to the situation. The exact number of redundancies is not known.

Meatless Farm filed notice that it planned to appoint administrators on 31 May, however it is understood that no administrator has yet been appointed.

The company was founded by Danish entrepreneur Morten Toft-Bech in 2016 as demand for plant-based products began to rise in the UK.

As well as vegan sausages, mince and burgers, the company has launched products including vegan pasties, plant-based ravioli and a “chickenless” Christmas roast.

Sales have grown steadily over recent years but the business has failed to turn a profit. Its latest results show revenues almost doubled from £7.5m to £12.5m in 2021 but losses increased from £15.4m to £23.5m.