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GFI shuttering business in Canada and North Carolina
A plant-based and plant protein company is winding down operations.
In a recent news release on its website, Global Food and Ingredients Ltd. (GFI), said they made the decision based on several factors including challenges in purchasing adequate supplies of raw material for processing.
This resulted in a decline in the company’s sales and gross profit until new raw material supplies became available this fall.
Management and the board of directors decided the challenges would make it nearly impossible for the company to continue to operate and service its debts, leaving no other option than to close its operations.