Quick commerce platform Getir is bidding adieu to the French market — less than two years since starting its operations in the country.
In a press release sent to AFP, the company said that it will soon exit France and seek a buyer for “all of parts of the group.” The Turkish-owned Getir Group encompasses Getir, Gorillas, and Frichti.
“The complex legal environment and the regulations imposed by local administrations have made the success of the company very difficult,” said the platform. Specifically, in March, the French government decreed that “dark stores” — where the products are stored before delivery — are considered warehouses and not businesses. This means that local town halls have the power to decide whether or not they allow such warehouses in the city centre.
For the past months the group has been struggling to reach profitability in France. At the end of March, the total debt of the three entities amounted to €17.6mn and they were placed in receivership by the court of trade in Paris. Already at that point, the group was considering cutting approximately 900 jobs. Now, an estimated 1,800 employees are at risk of unemployment.
The <3 of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol’ founder Boris, and some questionable AI art. It’s free, every week, in your inbox. Sign up now!
Meanwhile, Getir’s competitor Flink faces the same fate. The company, which absorbed French-based Cajoo, was also placed in receivership and has filed for bankruptcy. It recently announced it’s leaving France as well, while rival Gopuff already exited the market in January.
With the number of instant grocery delivery platforms continuously decreasing in the region, it seems that the quick commerce bubble has burst in France. It remains to be seen whether this will have a ripple effect in the overall European market.
Get the TNW newsletter
Get the most important tech news in your inbox each week.
Also tagged with