Online food delivery platform Getir has confirmed plans to exit the UK, Germany and Netherlands, as part of a restructuring plan which will see it solely operate in its home market of Turkey.
The Turkish headquartered firm, once valued at £9.5bn, pulled out of Italy, Spain and Portugal last year as demand for home grocery and takeaway services has shown signs of fading in a post-Covid market.
Last summer the business slashed 2,500 roles across its 23,000 strong workforce in its five remaining markets in the UK, Netherlands, Germany, the US and Turkey.
The move has crystallised 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.
Getir said it only generates seven per cent of its revenues from the markets it is exiting; and the decision will allow Getir to focus its financial resources on Turkey.
It is thought around 1,500 job roles across the UK will be impacted by the move.
In a statement today the firm said: “Getir today announced its decision to exit the UK, Germany, the Netherlands, and the U.S. FreshDirect, the U.S. subsidiary of Getir, will continue its operations.
“Getir generates only seven per cent of its revenues from the markets it is exiting; this decision will allow Getir to focus its financial resources on Turkey.”
They added: “In parallel, Getir has raised a new investment round, led by Mubadala and G Squared. Getir will utilise 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 U.S.”
The company was founded in 2015 and was among a slew of companies promising quick delivery of food and other essentials to city dwellers.
Demand for these services swelled during the pandemic but they have since crumbled amid the cost of living crisis and a return to in-person dining.
Getir acquired rival Gorillas in December 2022 in a $1.2bn (£96m) deal. Fellow quick service provides such as Deliveroo and Just Eat have also announced over 2,000 job cuts between them last year as customers rein in spending amid the cost of living crisis.