Two Albuquerque companies plan layoffs
More than 300 people will be laid off in Albuquerque in August and September
Between two Albuquerque businesses, more than 300 people will be laid off in August and September. California-based Tattooed Chef Inc. is laying off 272 workers in Albuquerque, effective Aug. 30, according to the New Mexico Department of Workforce Solutions’ worker adjustment and retraining notification list.
Kevothermal LLC is laying off 118 workers in Albuquerque, effective Sept. 15, according to the WARN list. The company manufactures vacuum insulation panels and is a joint venture between NanoPore Inc. and Sealed Air Corp.
Tattooed Chef is a plant-based food company that produces frozen food products like ready-to-cook bowls, cauliflower pizza crusts and Mexican cuisine entrees. Both companies could not be reached for comment.
Tattooed Chef announced on June 30 that the company intends to file for Chapter 11 bankruptcy protection and to pursue selling company assets. The company plans to continue operating during the reorganization. Employees are also being laid off in California.
“I remain ever grateful to our colleagues at Tattooed Chef who helped to shape this remarkable journey and help to introduce plant-based foods and healthy eating to consumers across the country,” said Chairman and CEO Sam Galletti. “Despite their commitment to our mission and our best efforts to maintain the operations of Tattooed Chef, our business has continued to be impacted by a challenging financing environment and an inability to raise additional capital. These factors, among others, in the view of the management team and Board of Directors necessitated the Chapter 11 filing.”
A news release in May showed that Tattooed Chef’s first quarter revenue declined by $8.6 million, or 12.7%.