Getir faces major restructuring amid valuation decline


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A major restructuring could risk thousands of jobs across the markets in which it operates, although further details of the options under consideration were unclear this weekend.

Restructuring firm AlixPartners is understood to be advising on the situation at Getir.

The crisis discussions underscore the decline in valuations of technology firms that were once lauded as the new powerhouses of major economies.

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 including the Netherlands and the US, in order to focus on existing operations.

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