Plans for a 200,000 square foot growing center in Columbia Gateway have likely evaporated with the insolvency of Infarm, the global farming company pursuing the project.
The company, which moved its head office and principal place of business from Berlin, Germany, to London in July, entered Administration on Sept. 4, subject to England and Wales Insolvency Rules.
According to an Infarm press release, Gordon Thomson and Damian Webb of RSM UK Restructuring Advisory LLP of London were appointed as Joint Administrators of the company on the same day.
Under United Kingdom law, Administration calls for management of a company to be replaced by an insolvency practitioner who has a statutory duty to rescue the company, save the business, or negotiate the best outcome possible.
The latest setback follows a major restructuring effort last year that sought to consolidate Infarm’s international operations and salvage the Columbia project, which was expected to produce up to 45 million crop plants per year.
A spokesperson for RSM UK did not respond to a request for comment from The Business Monthly.