Getir France, a subsidiary of Turkish fast home grocery delivery player Getir and owner of Frichti and Gorillas, has been placed in receivership by the Paris Commercial Court, the company announced on Tuesday May 2 in a statement to the AFP.
“The Paris Commercial Court ruled today (May 2) in favor” of placing the company in receivership, accompanied by a “3-month observation period for Getir France, Gorillas France, Frichti “, indicated the company by specifying that two administrators and two legal representatives were appointed to develop and put in place a “plan of reorganization”.
The receivership must give “the three companies of Getir in France the time necessary to find a sustainable model to operate in the country”, pleads the company in its press release. According to the CFDT, Getir has 900 employees in France, Gorillas 500 and Frichti 400.
Getir France had requested its placement in receivership at the end of April, citing “the evolution of the regulations” in France, which creates “additional complexities”. The CGT had considered that this request for placement in receivership was a strategy aimed at “having wages paid by the AGS (wage guarantee scheme, editor’s note) and temporarily suspending the payment of debts and creditors”. Affirming that Getir had “significant cash”, the union considered “that the group still has the means to finance the reorganization of (company in) France”.
“Quick commerce”, which emerged thanks to the confinements of the economy during the Covid-19 pandemic, has indeed benefited from very significant fundraising in 2021 and 2022. However, they are more complicated at present. current situation because of the difficulty of this activity to find a profitable economic model.
At the end of March 2023, the total amount of indebtedness of Getir France, which started its activity in the country less than two years earlier, amounted to approximately 17.6 million euros, according to an internal note to the company that AFP acquired. This announcement comes as the British business daily Financial Times said on the basis of sources familiar with the matter that discussions were underway regarding a takeover of its competitor Flink. Getir did not wish to comment Tuesday evening on this subject to AFP.