Do Good Foods files for Chapter 11 bankruptcy protection

WILMINGTON, DEL. — New Jersey-based chicken processor Do Good Foods filed for Chapter 11 bankruptcy protection on June 16.

According to the voluntary bankruptcy petition filed with the District of Delaware, the company estimated its total assets between $100 million and $500 million, its total liabilities within the same range, and total creditors between 200 and 999.

General Counsel and Corporate Secretary David Buffa filed the petition for Do Good Foods and its affiliates.

"We founded Do Good Foods to pursue a mission to bring sustainability to scale with the largest food companies and we are executing on our vision and mission. The court-supervised process we are undertaking is intended to strengthen our financial position," said Justin Kamine, co-chief executive officer for Do Good Foods. "As part of this process, we received a commitment for ~$30 million in new financing from certain of our existing lenders, demonstrating their belief in our mission and adequately supporting our operations, which continue to operate as usual. We look forward to aligning financially with partners that can help accelerate the execution of our mission as we seek to scale nationally. We are confident the steps we are taking today will enable us to bring our sustainable solution to even greater heights.”

Do Good Foods uses a closed-loop system to offer consumers carbon-reduced food from utilizing surplus grocery food. Grocery food that would typically be thrown out is used as feed for Do Good Foods’ chickens.

In 2021, asset manager Nuveen invested $169 million in the business.

According to its website, Do Good Foods has diverted around 32.8 million lbs of surplus food from landfills since its launch.