The Baltimore-based meal delivery service Terra’s Kitchen has filed for bankruptcy and appears to have shut down.
According to federal court filings, the company’s revenues had dwindled over the last couple of years and investment had dried up. The company had just $15,000 in assets against $18.7 million in unsecured claims, the filings said.
The Canton-based service had entered the highly competitive meal-delivery space hoping to attract health-conscious customers with its pre-packaged, healthy meals that could be heated up in 30 minutes.
The company’s CEO was Michael McDevitt, the former CEO of Medifast. The company soft-launched on the West Coast in 2015 and launched in Baltimore in 2016.
Its competitors included Blue Apron and HelloFresh. McDevitt told The Daily Record in 2016 that he found those alternatives delivered with too much waste and took too long to prepare the meal.
The company found initial success with diminishing returns. It recorded gross revenues of $14.9 million in 2017, $6.4 million in 2019 and $1.5 million through its bankruptcy filing this year.
The company’s website says it stopped operations in August, but promised to return with changes including “Cutting-edge DNA-based diets that fuel your metabolism.”
The startup’s social media has been inactive since April.