Cookie start-up Wholey Moly has ceased trading after being overwhelmed by a barrage of challenges this year.
Founder Meenesh Mistry, who set up the business with his wife Parul Vadher in 2018, revealed on LinkedIn he had decided to close the doors in the face of “mounting pressures coming from all angles”.
He told The Grocer, the business had come up against trademark issues, soaring input costs, labour shortages in the wake of Brexit and declining demand as consumers were hit by the cost-of-living crisis.
Mistry said retail buyers were increasingly looking for cheaper products, with less demand for a premium cookie.
He wrote on LinkedIn that it was “a bloody tough climate out there at the moment”.
“Whilst we’re gutted about closing the business, what an epic journey it’s been, we’ve taken an idea from our kitchen table into the likes of Selfridges, Whole Foods Market, Ocado Group, Amazon, Daylesford Organic, Holland & Barrett, Sainsbury’s and we couldn’t be prouder.
“I’ve learnt a ridiculous amount about business, food and start-ups, and i’m planning on sharing some of this on here over the next few weeks.”
Wholey Moly produced a four-strong range of vegan, gluten-free cookies containing 50% less sugar than similar products.
The business secured £100k investment in 2021 to support a push in the supermarkets.
Mistry is currently exploring options for officially winding up the business.
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