Getir Eyeing Restructuring: Report
As the ultrafast e-commerce business continues to shake out, there’s word that global delivery service Getir is set for restructuring. According to a report in the U.K.-based Sky News, Getir is in talks with investors on how to move the business forward in a challenging environment.
It’s been a bit of a ride for Getir since the pandemic upended the way people shop. Founded in Turkey in 2015, Getir aims to deliver groceries within 10-15 minutes and currently operates in five countries, including the United States. The company acquired FreshDirect from Ahold Delhaize in December 2023 but, before that, exited markets in Italy, Portugal and Span and cut its workforce by 10% last fall.
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The story in the British news channel cited speculation that the company is looking at a “radical” restructuring that could include a dismantling of the rapid delivery group or pullout from additional markets. Sources denied that the company is in talks about insolvency processes and protections. At a peak two years ago, Getir was valued by investors at nearly $12 billion.
In the United States, Getir has already made significant changes in 2024. In January, the company announced the hiring of Hatice Evren as U.S. Group CEO for Getir and FreshDirect and Sloan Eddleston as CEO of FreshDirect.
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