Rapid grocery delivery app Getir is preparing to withdraw from the UK market in a move that is expected to put around 1,500 jobs at risk.
The Turkish-founded company, which was once valued at nearly £9.7bn, is understood to announce in the week ahead its exit from the UK, as well as Germany and the Netherlands, the two other European markets it operates in, Sky News reported.
The process through which Getir plans to withdraw from the UK market is unclear but sources said it could involve a sale of its assets or placing the operations into insolvency.
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However, the delivery app has previously denied that any form of insolvency was on the cards for the group or its subsidiaries.
The company is understood to have drafted in restructuring advisers in recent days and has been exploring the sale of some of its assets after “make or break” talks escalated.
Any exit from the UK and other European markets will leave the delivery firm with operations in the US and Turkey only.
Founded in 2015, Getir became one of the largest of more than a dozen delivery app companies that raised more than $5bn (£4bn) during the pandemic.
Most of its rivals have already been sold or shut down as consumer demand shifted after the Covid lockdowns.
Last year, Getir made 10% of its global team redundant in a bid to make operational efficiencies.
After expanding rapidly around the world, in 2023 it also began withdrawing from Spain, Italy and Portugal and other markets in order to focus on existing operations.
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