Grocery delivery firm Getir is considering leaving the UK through a sale of its assets or an insolvency procedure, according to reports.
It is understood that the departure of the company, which was valued at nearly $12bn two years ago, from the UK could put as many as 1,500 jobs at risk.
It is also expected to take place alongside exits from the firm’s other remaining European markets, Germany and the Netherlands, according to a report from Sky News.
The move would crystallise what has been a major fall in fortunes for grocery delivery apps like Getir, which experienced huge demand during the pandemic before collapsing in the past two years.
The firm has already retreated from the likes of Italy and Spain in an attempt to stem losses.
Prior to its downturn the company, which is also expected to dial back its presence from the US, had adopted a strategy of driving growth through the acquisitions of ailing competitors. In December 2022, the firm bought Gorillas, a competitor with considerable UK operations, for $1.2bn.
Getir and its biggest shareholder, the Abu Dhabi fund Mubadala, are said to have both appointed restructuring advisers.
The spectre of job losses at the firm, still a sponsor of the Premier League football club Tottenham Hotspur, follows a number of other redundancy rounds, including one in August 2023 which affected over 10 per cent of its staff in markets like the UK and Germany.
Getir was approached for comment.