Rapid delivery firm Getir set to exit the Netherlands, UK and Germany: Report
Rapid grocery delivery service Getir is planning to pull out of the Netherlands, the United Kingdom and Germany, sources close to the company told British news service Sky News. Getir could announce those plans next week, which would put thousands of jobs at risk.
Earlier in April rumors began to circulate that the company was considering another major restructuring, that could lead to an exit from those markets and also the United States. It was not yet clear if Getir would declare bankruptcy in some markets, wind down its operations, sell off its assets, or some combination of maneuvers. "Getir principally doesn't comment on rumors," a spokesperson told Sky News.
The Istanbul-based company was valued at well over 11 billion dollars after an investment funding round in the first quarter of 2022. It then made a string of moves, including the acquisition of competing service Gorillas, a partnership with Just Eat Takeaway, and the acquisition of FreshDirect. The American delivery service was owned in part by Albert Heijn parent Ahold Delhaize.
Getir's couriers, clad in purple and yellow, were once a constant presence on the bike paths of Dutch cities. But Getir's cash position was rumored to be very tight, and its valuation was drastically slashed after another fundraising effort in 2023. It exited from France, Italy, Portugal, and Spain last year, and was rumored to be considering a move to leave the Netherlands.
The company closed down six large warehouses in the Netherlands, including five in Amsterdam. It began to wind down operations in Breda, Delft, Eindhoven, Groningen, Leiden and Tilburg in August. The moves in the Netherlands and other markets meant a loss of 2,500 of its 25,000 workers.
Getir still operates in Amsterdam, Rotterdam, The Hague and Utrecht, the four largest cities in the Netherlands. Its couriers can also be seen in Amstelveen and Haarlem. One-time rival Gorillas is also present in the four largest cities, Arnhem, Haarlem, and Nijmegen.
The Turkish company's restructuring would put it in a position to fully focus on its domestic market, and possibly also the United States. But Getir is also looking to sell off the American company, FreshDirect, just a half-year after acquiring the service, according to Sky News.
Getir launched in 2015, but really boomed during the coronavirus pandemic as many people looked for more ways to remain indoors. Rapid delivery services in many markets, including the Netherlands, have faced extensive challenges since then, amid high inflation, rising wages, and households looking for ways to cut unnecessary costs.
