Getir has unveiled plans to withdraw from Spain, Italy and Portugal in order to focus on existing operations in other markets.
The ultrafast grocery delivery platform said the move “will allow it to focus its financial resources on existing markets where the opportunities for operational profitability and sustainable growth are stronger.”
In June, Spanish trade union CCOO said that Getir would be ending its business in the country after it failed to raise enough capital in a funding round, Reuters reported.
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Getir has confirmed that it will continue to operate in the UK, the US, Germany, the Netherlands and Turkey, which generate 96% of its revenues.
Earlier this month, the grocery delivery app launched a new fundraising round in the UK as it looked to calm rumours of potential insolvency.
This came as Getir has reduced the number of UK dark stores that it operates and launched plans to sell off dozens of bikes, chiller cabinets and delivery boxes.
However, the company has said that it is “finalising a funding round”.
Getir added that it is “very grateful for the hard work and dedication of all its employees in Spain, Portugal and Italy.”