Getir, the grocery delivery app, has abandoned a European expansion that is set to result in the loss of about 1,500 jobs in the UK.
Sky News had previously revealed that the Turkey-based company, which means “to bring” in Turkish, had successfully raised money from investors to fund its withdrawals from the UK, Germany and the Netherlands.
It had already departed other countries including Italy and Spain.
The exits were prompted by growing losses linked to the company’s rapid expansion.
Its UK competitors include Deliveroo and DoorDash.
The restructuring will leave Getir, which had a peak value of $12bn at the height of pandemic-linked demand, as a business focused on its domestic market.
Getir said it was to retain its US arm FreshDirect – only bought a few months ago.
More from BusinessThe company was yet to confirm exactly how many were to lose their jobs across the UK operation.
It is understood that it employs up to 1,500 people. They include warehouse staff, managers and riders.
Advertisement Image: Getir’s commercial partnerships include a sponsorship deal with Tottenham Hotspur. Pic: Pic: Alex Morton/Tottenham Hotspur FC/ShutterstockIn a statement on Monday, Getir said its non-Turkish business was accounting for only 7% of its revenues.
“Getir has raised a new investment round, led by Mubadala and G Squared.
“Getir will utilize these funds to bolster its competitive position in its core food and grocery delivery businesses in Turkey.
“Getir expresses its sincere appreciation for the dedication and hard work of all its employees in the UK, Germany, the Netherlands, and the US,” it concluded.