Turkey-based delivery firm Getir is quitting all of its overseas markets including the UK to cut costs after spiralling losses and funding concerns.
Gorillas, Getir’s sister brand. is also shuttering its UK operations, as the firm retrenches back to its home market of Turkey.
Getir, headquartered in Leyton and the sponsor of Spurs’ training kit, employs 1,500 people in the UK in its warehouse and to make deliveries.
No details about job losses were released, though Getir said it expresses "its sincere appreciation for the dedication and hard work of all its employees in the UK plus Germany, the Netherlands, and the US", the other operations to be closed down.
In a statement, Getir said: “The company will focus on its core market of Turkey, where it sees the biggest potential for long-term sustainable growth”.
At its high point, a funding round valued the group at US$12 billion but that had tumbled to US$2.5 billion by last year.
Reports today suggested that a new round of funding backed by Abu Dhabi investment group Mubadala had cut that valuation even further.
Turkey accounts for 93% of its revenue, Getir said, adding it will utilise these funds to bolster its competitive position in its core food and grocery delivery businesses in Turkey.
Getir became a sponsor of Spurs in 2021 when it became the Premier League club’s first-ever front-of-training-shirt sponsorship.
That deal ends at the end of this current season.