Getir’s Strategic Retreat: Exiting Spain, Italy, and Portugal
Getir, the ultrafast grocery delivery platform, has decided to pull out of Spain, Italy, and Portugal. This strategic move aims to concentrate the company’s financial resources on markets that present more robust opportunities for operational profitability and sustainable growth. This decision follows reports by the Spanish trade union CCOO in June, which highlighted Getir’s challenges in raising sufficient capital during a funding round in Spain.
Despite these withdrawals, Getir remains committed to its operations in the UK, US, Germany, the Netherlands, and Turkey, collectively accounting for 96% of its total revenues. Amidst speculations of potential insolvency, Getir recently initiated a new fundraising round in the UK. The company has also made operational changes, including reducing the number of its UK dark stores and planning the sale of several bikes, chiller cabinets, and delivery boxes. However, Getir has emphasized that it is in the final stages of securing a funding round. It has expressed gratitude to its workforce in Spain, Portugal, and Italy for their dedication and contributions.
The news is “GETIR TO WITHDRAW FROM SPAIN, ITALY AND PORTUGAL.“