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Upcycling company Do Good Foods filed for Chapter 11 bankruptcy protection, according to a filing in Delaware.
The Bedminster, New Jersey-based company developed a closed-loop system to convert grocery food that can’t be sold or donated into nutrient-dense animal feed.
In 2021, Do Good raised $169 million from asset manager Nuveen and built a production facility in Bucks County, Pennsylvania. It launched Do Good Chicken last year, which is now available at select locations in New York City, Philadelphia and Chicago, and partnered with Post Holdings to sell carbon-reduced eggs to foodservice locations.
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