NOTTINGHAM, MD — Multiple reports said an indoor farming company is closing all its locations, resulting in over 250 layoffs throughout the Mid-Atlantic.
PitchBook first reported on Nov. 1 that Bowery Farming is shuttering, bringing layoffs to Maryland, Pennsylvania, New Jersey and New York.
The Bowery facility in Nottingham shut down at the beginning of the month, according to a legally required layoff notice filed with the Maryland Department of Labor.
The notice said 83 workers were laid off at the Baltimore County plant.
A New York notice said 69 employees were laid off at Bowery's Manhattan headquarters.
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Pennsylvania's farm in Bethlehem saw 104 layoffs.
The New Jersey Department of Labor and Workforce Development doesn't yet list a layoff notice for Bowery's Kearny location.
Bowery was known for its vertical indoor farming, an efficient method of year-round agriculture where plants can be stacked to maximize space utilization. This form of farming is thought to be more eco-friendly with its renewable energy and targeted watering.
The company was founded in 2015. Its products were sold in more than 2,600 locations including Whole Foods, Amazon and Walmart.
The Baltimore Banner reported that Bowery was valued at $2.3 billion at its peak, raising $700 million in venture capital funds.
Bowery was financially backed by stars like performer Justin Timberlake and actress Natalie Portman, PitchBook said. Another investor was celebrity chef José Andrés, a resident of Bethesda, Maryland.
In a March visit to the Nottingham Bowery with Maryland Gov. Wes Moore, Andrés called the business "the future of farming."
"We need systems to keep feeding America and feeding the world" Andrés said, according to WBAL. "We can be more precise in how we can feed Maryland and the world."
Related: Celebrity Chef, Governor Celebrate 'Future Of Farming' In Nottingham
PitchBook said Bowery told workers it was trying to secure financing or sell the company, but those efforts were unsuccessful.
PitchBook reported that Bowery made multiple rounds of layoffs last year, delaying project openings as it attempted to raise venture capital.
Bowery announced plans in 2022 to open indoor farms in the Atlanta and Dallas areas, taking on $150 million in debt to expand what was then called "the largest vertical farming company in the United States."
Axios reported that the debt weighed heavily on Bowery, as the company's valuation fell and consumers proved unwilling to pay more for the business's sustainably sourced produce.
Agriculture Dive said other indoor farming companies, like Aerofarms and AppHarvest, filed for bankruptcy last year, though Aerofarms emerged with full funding and a new CEO.
Bowery raised an additional $94 million at a $944 million valuation in October 2023, PitchBook said. That made the company worth less than half its peak value.
Bowery has not yet responded to Patch's request for comment. We will update this story if Bowery replies.