Is This the End for Point Pickup Technologies?

Company petitions for 'assignment for the benefit of creditors' — an alternative to formal bankruptcy
Lynn Petrak, Progressive Grocer
Point Pickup Technologies
Founded more than a decade ago, Point Pickup Technologies uses technologies and a large flex labor network to offer on-demand labor and last-mile delivery solutions.

Point Pickup Technologies, Inc., an enterprise-only, retail-branded provider of fulfillment and last-mile delivery services for a variety of retailers, has made a move to liquidate its assets. Per a post on its website, the e-comm company is pursuing the procedure called an “assignment for the benefit of creditors” (ABC). 

In a petition filed in a Miami court in late February, the voluntary alternative to formal bankruptcy comes less than a year after the same-day delivery firm merged with PICKUP Now, Inc., an enterprise-grade, last-mile delivery service focused on larger item delivery and assembly. In 2021, Point Pickup acquired the white label e-comm platform GroceryKey and in 2023, announced that it was working with ad tech platform InMobi Commerce in a retail media advertising partnership.

As with other e-comm firms, the global pandemic and subsequent rise in delivery fueled growth for Point Pickup. In late 2020, the company announced a Series A investment of $30 million from a private equity firm and was later said to have raised more than $84 million from a variety of investors. 

At one time, Point Pickup’s model included a network of more than 500,000 flex workers who used proprietary technology to provide delivery and pick and pack services for a range of grocery industry clients. The company counts large chains including Albertsons Cos., Giant Eagle and The Kroger Co. as customers who have used its flex workforce solutions, along with regional and mid-sized food retailers like Fareway Stores, Inc., Heinen’s Fine Foods, Lowes Foods, Stew Leonard’s and Woodman’s Markets, among others. 

Progressive Grocer reached out to Point Pickup for a comment but did not hear back as of press time.

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