Getir is withdrawing from the UK market in a move that is expected to result in the loss of around 1,500 jobs.
According to Sky News, the rapid delivery firm will also be exiting from its remaining European operations in Germany and the Netherlands, having already departed from Italy and Spain.
It was first revealed that Getir was preparing to withdraw from the UK last week, amid growing losses as shoppers shifted away from the online convenience market following peak pandemic-linked demand.
In early 2022 , the company had a value of $12bn (£9.5bn), however last September it dropped to $2.5bn (£1.9bn).
Subscribe to Grocery Gazette for free
Sign up here to get the latest grocery and food news each morning
Getir has confirmed it will retain its US arm FreshDirect, which it only acquired from Ahold Delhaize in November 2023.
While it is unclear exactly how many jobs will be lost in the UK, it is understood that the company employs up to 1,500 staff including warehouse operators, managers and riders.
Getir said in a statement today that its non-Turkish business was accounting for just 7% of its revenues, with the decision to withdraw from Europe seeing the firm focusing instead on its domestic market.
The statement read: “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.”
