AppHarvest, a Kentucky-based indoor farming startup that once reached a $1 billion valuation, filed for Chapter 11 bankruptcy on July 24, 2023. The company, which had aimed to revolutionize agriculture with high-tech greenhouses and create jobs in Appalachia, laid off nearly all of its workforce as part of the bankruptcy proceedings. While an exact layoff number isn't specified in this summary, the shutdown affected hundreds of employees across its multiple facilities. Founded in 2018 and backed by notable figures, AppHarvest struggled with persistent operational issues, labor challenges, and financial losses despite significant public and private funding, leading to its eventual collapse in the competitive agtech industry.
