FreshDirect May Go Under as Parent Getir Looks to Cut Costs: ‘Don’t See How it Lasts Longer Than a Year’

Lisa Fickenscher, New York Post Retail & FoodService April 25, 2024

Food delivery pioneer FreshDirect may be nearing its expiration date as money-bleeding parent Getir looks to dump the Big Apple grocer — just six months after buying the company, The Post has learned.

Turkish-based Getir, which scooped up FreshDirect from Stop & Shop owner Ahold Delhaize USA last November, has come under pressure to cut costs from its investors, which include Abu Dhabi sovereign wealth fund Mubadala Investment Co., Tiger Global and Sequoia Capital, according to a Sky News report.

Getir — a delivery service that operates in select US markets as well as in the UK, the Netherlands and Germany — is burning through as much as $50 million a month, according to a Bloomberg report.

To read the rest of the story, please go to: New York Post

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