Boston vegan foods manufacturer falls into administration

The firm, which manufactures plant-based products for Quorn, Princes and Wicked Kitchen, has been hit by soaring costs, administrators said

A vegan foods supplier in Lincolnshire has filed for administration after being hit by soaring costs.

James Clark and Howard Smith from Interpath Advisory have been appointed as joint administrators to Boston-based Plant & Bean.

All 25 staff at the firm, which manufactures products for Quorn, Princes and Wicked Kitchen, have been retained, according to administrators.

They said they would work with key stakeholders to explore a sale.

Mr Clark, managing director at Interpath Advisory, said: "Businesses across the food and drink sector, and especially those in highly competitive sub-sectors such as alternative protein, are facing immense pressures at the moment, with rising costs impacting profitability."

In addition to "significant inflation across its cost base", he said the business had also suffered several operational issues resulting in interruptions to production.