Legal Action Seals the Fate
The final blow, the company said, came from recent legal action in the United States against its American subsidiary. That proceeding sought the appointment of a receiver over the factory and all assets, along with approval of a $35.2 million foreclosure claim, after Believer Meats failed to meet its obligations.
Attempts to raise capital, including approaches to banks and other financial institutions, proved unsuccessful. The net debt of the U.S. subsidiary to the parent company totals 672.4 million shekels ($211 million), according to the filing.
Costs Outpaced Reality
Company documents show construction of the North Carolina factory alone cost about $154 million, excluding equipment and machinery — far above the original $138 million budget. Construction was completed only in September, and the facility remains not ready for production.
All of this unfolded alongside what the company described as a “significant cash burn rate,” driven by high operating costs and heavy investment before any revenue was generated or products sold.
For Believer Meats, the promise of lab-grown protein collided with financial gravity — and the result is a bankruptcy filing that signals just how steep the climb remains for the cultured-meat industry.
