Getir to exit France

 

European quick commerce startup Getir is reportedly closing down its operations in France, citing the "complex legal environment and regulations imposed by local authorities."  The news of Getir's exit from France comes as the firm's French unit filed for bankruptcy. Court-appointed administrators are now looking for potential acquirers for Getir's nationwide operations.  Getir's 1,800 employees now risk being unemployed, with their fate tied to the outcome of the bankruptcy process.  The Turkish firm had reached a peak valuation of $11.8B.  In late 2022, it acquired Gorillas, which itself had acquired French ready-to-eat meals and grocery delivery startup Frichti earlier in the year.  Quick-delivery startups were already facing challenges due to high upfront costs, which were unsustainable as venture funding slumped.  Their challenges were further compounded when the French government announced that it would consider dark stores as warehouses earlier this March.  The move gave local authorities the power to decide whether or not to allow warehouses within city premises.  Getir competitor Flink filed for bankruptcy in France late last year, while another peer Gopuff exited the country in January 2023.