Piñatex administration raises bio-based questions

LONDON — Ananas Anam, the UK-based company behind pineapple leaf fibre textile Piñatex, has entered administration, ending more than a decade of operations for one of the next-generation materials sector’s most high-profile players.

According to UK Companies House filings, insolvency practitioners Alex David Cadwallader and Neil A Bennett of restructuring firm Leonard Curtis were appointed as the administrators. The filings reveal a business under severe financial strain: UK turnover fell to £240,849 in 2023, down from £419,849 the previous year, against a loss of £1.14 million. The company’s Spanish subsidiary fared little better, posting revenue of €518,515 — a 20.4% year-on-year decline — and losses of €1.03 million.