Beyond Meat Inc. is preparing to seek Chapter 11 bankruptcy protection, according to a report from financial news outlet TheStreet cited by several market-tracking services late Thursday. The once-high-flying plant-based protein maker has struggled with shrinking sales and dwindling cash reserves as consumer enthusiasm for meat substitutes cooled. Its stock, which reached roughly $235 shortly after its 2019 debut, has fallen about 99 percent and now trades below $3. Commentary circulating among investors notes an average Wall Street price target of roughly $2.64. A Chapter 11 filing would allow the El Segundo, California-based company to continue operating while it restructures its liabilities and seeks fresh capital. Beyond Meat has not publicly responded to the report, and no timeline for a court petition has been disclosed.