Rapid grocery delivery app Getir is preparing to exit the UK market, along with Germany and the Netherlands
- Getir to withdraw from UK market, putting 1,500 jobs at risk
- Company may sell assets or place operations into insolvency
- Restructuring advisers brought in and talks escalated
- Getir will only have operations in US and Turkey
- Getir became one of the largest delivery app companies during the pandemic
- Most rivals have been sold or shut down
- Getir made redundancies and began withdrawing from other markets
- Superdry CEO issues ultimatum to shareholders
Rapid grocery delivery app Getir is planning to withdraw from the UK market, as well as Germany and the Netherlands, putting approximately 1,500 jobs at risk. The company, once valued at nearly £9.7bn, is expected to announce its exit in the coming week. The process of withdrawal is unclear, but it may involve selling assets or placing operations into insolvency. Getir has denied any insolvency plans in the past. The company has brought in restructuring advisers and explored asset sales after intense talks. This move will leave Getir with operations only in the US and Turkey. Getir became one of the largest delivery app companies during the pandemic, with most of its rivals being sold or shut down. The company made redundancies last year and began withdrawing from other markets to focus on existing operations. In other news, Superdry CEO Julian Dunkerton has issued an ultimatum to shareholders.
Factuality Level: 8
Factuality Justification: The article provides a clear and factual account of Getir’s plans to withdraw from the UK market, including details about the potential impact on jobs, the reasons behind the decision, and the company’s previous actions. The information is presented in a straightforward manner without sensationalism or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about Getir’s decision to withdraw from the UK market, the potential impact on jobs, and the company’s previous actions. It includes details about the company’s valuation, operations, and strategic decisions. The article stays on topic and supports its claims with examples and sources. However, it could benefit from more in-depth analysis of the reasons behind the withdrawal and the implications for the industry.
Financial Relevance: Yes
Financial Markets Impacted: The withdrawal of Getir from the UK market is expected to impact the job market and potentially affect the financial performance of the company.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the withdrawal of Getir from the UK market, which could have financial implications for the company and the job market.
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