Infarm closes Copenhagen operations amid ongoing ‘strategy shift’ & vertical farming consolidation
Vertical farming company Infarm has shut down operations in Copenhagen, Denmark. This is the latest closure in a series that also includes operations in the UK, France, the Netherlands, Japan and Frankfurt, Germany.
The Germany-based startup says it is focusing on markets that have a clear path to profitability in 2023.
In November 2022, Infarm said it would lay off “more than half” of its workforce and downsize its operations. An email from company executives cited “escalating energy prices and tough financial markets” as drivers of an overall “strategy shift.”
Copenhagen is one of several markets impacted by this strategy shift, following the Feb. 2023 closing of operations in the UK, France, the Netherlands and Japan, and Frankfurt, Germany on April 6.
Toronto, Canada is on the list of markets the company will consolidate, though Infarm’s latest update notes that it “continues unaffected.”
“We have to adapt our ambitious growth targets and increase our efficiencies to make our business profitable, and continue the pursuit of our long-term mission,” company executives said in the email to employees.
A spokesperson from Infarm told AFN that the company is working on an update about its overall strategy going forward. Details of this are forthcoming, they noted.
Agfundernews
Related news
HelloFresh is boosting British cooking confidence with new “Skills” recipe boxes
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Nespresso axes 200 UK jobs amid store shutdowns
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >German retailer Lidl sets increasingly high animal welfare standards
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
Dr Zoltán Pogátsa on the Hungarian economy: neither the golden age, nor an apocalypse
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Eurozone GDP grew by 0.1 percent in the second quarter compared to the previous quarter
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >KSH: industrial production decreased by 1.0 percent compared to the same period of the previous year, expanded by 2.0 percent compared to the previous month
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >