Halt in production
Komo halts product manufacturing over lack of financing
2023-10-11 19:24 ET - News Release
Mr. William White reports
KOMO PLANT BASED FOODS INC. ANNOUNCES HALT IN PRODUCTION
Komo Plant Based Foods Inc. has halted manufacturing of its products. This decision is due to the company's inability to secure the necessary financing to continue operations at the existing scale.
In the midst of these financial challenges, Komo continues to explore options, including the continuing evaluation of a potential sale of its wholly owned operating subsidiary, Komo Plant-Based Comfort Foods Inc. As previously announced in July, the potential sale presents an attractive proposition for enterprises looking to amplify their portfolios in the plant-based sector, leveraging Komo's expansive distribution network, award-winning products and the brand's strong resonance with consumers.
Komo is actively reviewing opportunities in multiple sectors, including potential acquisitions.