80 Acres Farms Winds Down Operations After Failed Acquisition

The indoor farming company 80 Acres Urban Agriculture is permanently winding down its operations and closing facilities in Washington, Ohio, and Kentucky. The decision follows a failed attempt to secure capital after a prospective acquirer unexpectedly withdrew from negotiations on August 2.

CEO Mike Zelkind announced that the company is laying off 55 employees at its Marysville, Washington, facility. These position reductions, which primarily affect production supervisors, labeling technicians, and packers, are scheduled to take place between August 3 and August 17.

Prior to the shutdown, the company supplied produce to more than 18,000 retail locations across the United States. Zelkind stated that the team had proven vertical farming could work at scale over the last decade, but the firm could not secure the funding required to continue its work under current circumstances.