The largest insect production company in Europe was just declared bankrupt, another blow to the creepy-crawly globalists trying to force the peasants to eat beetles instead of beef.
Italian outlet Press Kit announced today that Ÿnsect, a French-based entity that was the biggest insect production company in Europe, could not secure necessary financing. The significant amount of funding poured into it in the past by woke investors and governments was insufficient to keep the boondoggle going. Therefore, as of this week, Ÿnsect was liquidated, declared bankrupt, and then placed into judicial liquidation over its insolvent state.
The court in Évry, near Paris, declared Ÿnsect insolvent. Like "green" energy and other climate alarmist nonsense, insects-as-food companies cannot survive on their own. There isn't enough of a demand, at least in the West. They rely on government subsidies, and if those dry up, the market demand does not exist to take their place.
Westerners from first-world countries are not voluntarily going to switch from meat to bugs so long as they have any choice. Globalists always love to blather about how Asian nations serve insects as street food, delicacies, or entrees, but they never mention that the people selling and eating the bugs are by and large very poor. If you can't afford pork, chicken, or beef, you'll eat whatever protein you can get, especially if it's plentiful, like insects.
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But when people have a choice, only a very small number of them will willingly eat worms and scorpions and ants instead of hamburgers and roast chicken and bacon. Certainly, the elites never follow their own advice by cutting meat entirely in favor of crickets and grasshoppers. And globalists have not yet succeeded in so impoverishing and crushing European citizens that most of them cannot afford meat and have to grub up alternatives. So naturally, the insect production company went out of business.
Press Kit explained about the bankrupt bug farming company:
And revenue was the problem. According to publicly available data, Ÿnsect's revenue from its parent company peaked at €17,8 million in 2021 (about $21 million), a figure apparently inflated by internal transfers between subsidiaries. By 2023, the company had accumulated a net loss of €79,7 million ($94 million), Tecno Crunch reports…[Ÿnsect] had raised over $600 million, including funds from Downey Jr.'s FootPrint Coalition, taxpayers, and many others. The company also secured a €160 million ($175,5 million) Series D financing round in 2023.
But Ÿnsect went bankrupt anyway.
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This will no doubt disappoint the World Economic Forum (WEF), which holds annual conferences bringing together the world's elite to eat caviar and filet mignon at an exclusive resort while dictating to the rest of us how we need to eat bugs to stop the planet from catching fire. The good news is, there is no climate crisis, and now Europe's largest company for producing insect inedibles is bankrupt.
Poor Klaus Schwab and Bill Gates — fewer Europeans than ever will be eating ze bugs in 2026.
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