More

    Delivery startup Getir to exit Italy, Spain and Portugal

    Photo by PAUL ELLIS/AFP via Getty Images

    Turkish food delivery startup Getir is withdrawing from Italy, Spain, and Portugal, the company said on Thursday, adding that it is finalising a funding round.

    Ultra-fast grocery delivery startups like Getir boomed during the COVID-19 pandemic but have been hit by consumers’ stronger than anticipated return to shopping in stores.

    In an emailed statement, the company said it “intends to withdraw in an orderly manner” from the three countries.

    “At the same time, Getir is finalizing a funding round and will continue to operate in the UK, the US, Germany, the Netherlands, and Turkey, which generate 96 per cent of the company’s revenues,” the company said.

    A month ago, Spain’s biggest trade union said Getir was ceasing its business in the country and laying off its entire workforce. Getir did not give details of layoffs.

    “Getir’s withdrawal from these three markets will allow it to focus its financial resources on existing markets where the opportunities for operational profitability and sustainable growth are stronger,” the company said.

    Latest

    ‘Most Brits use loyalty schemes’

    Most Brits (91 per cent) are now actively involved...

    ‘A third of shoppers have witnessed shoplifting’

    A third of UK consumers has witnessed an instance...

    Vapes and smoking cessation drug Champix show comparable effectiveness, study finds

    A groundbreaking study has revealed that nicotine-containing electronic cigarettes...

    Green cleaning brand Bio-D hits major milestone

    Green cleaning company Bio-D has helped consumers return more than 10,000...

    Don't miss

    ‘Most Brits use loyalty schemes’

    Most Brits (91 per cent) are now actively involved...

    ‘A third of shoppers have witnessed shoplifting’

    A third of UK consumers has witnessed an instance...

    Vapes and smoking cessation drug Champix show comparable effectiveness, study finds

    A groundbreaking study has revealed that nicotine-containing electronic cigarettes...

    Green cleaning brand Bio-D hits major milestone

    Green cleaning company Bio-D has helped consumers return more than 10,000...

    Radnor Hills chief William Watkins elected new president of British Soft Drinks Association

    Radnor Hills founder and chief executive William Watkins has...

    ‘Most Brits use loyalty schemes’

    Most Brits (91 per cent) are now actively involved in loyalty programmes, claims a recent report, reflecting a broad appeal across different demographics and...

    ‘A third of shoppers have witnessed shoplifting’

    A third of UK consumers has witnessed an instance of retail theft in the past 12 months, according to the latest research by Retail Insight,...

    Vapes and smoking cessation drug Champix show comparable effectiveness, study finds

    A groundbreaking study has revealed that nicotine-containing electronic cigarettes are as effective as the drug varenicline (also called Campix) in aiding smoking cessation. The study,...