Chef'd, El Segundo, Calif., suddenly shut down services, immediately laying off some 350 workers, who worked out of the Brooklyn, N.Y., warehouse and the California headquarters.
Kyle Ransford, founder and CEO, informed employees via an email:
“We have had some unexpected circumstances with the funding for the business. Due to setbacks with financing, unfortunately, we are ceasing operations for all employees, effective today, July 16, 2018. If we had been successful with these funding efforts, this difficult decision would have been avoided.
Everyone will receive wages through his/her last day of work, as well as any accrued vacation (as applicable). Eligible employees will have benefits through July 31, 2018.
I want to personally thank each of you. It was an amazing run, and while we didn't get to where we wanted to go, I hope you each take something away from this experience that will help you in the future. I will miss you and I will miss Chef'd.
Best of luck and please be in touch,
In May 2017, Chef’d received a $10 million investment from Campbell Soup Co., Camden, N.J., and in May, partnered with Smithfield Foods, Smithfield, Va., to make its subscription-based, ready-to-cook meal kits available at grocery stores nationwide.