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UK food delivery firm Deliveroo to exit Hong Kong

ORIGINAL POST
Posted by Ed 2 days ago
British meal delivery company Deliveroo (ROO.L), opens new tab said on Monday that it will exit its Hong Kong operations by selling some assets to Delivery Hero's (DHER.DE), opens new tab foodpanda for an undisclosed amount, and by closing other assets.
 
"There are several dynamics specific to the Hong Kong market which led the Board to consider strategic options and ... determine that it would not serve shareholders' best interests to continue to operate in Hong Kong," Deliveroo said in a statement.
 
The company's operations in Hong Kong were loss making and accounted for about 5% of overall transactions.
Deliveroo said it has nominated liquidators to close its Hong Kong businesses that it did not sell to foodpanda, and that its Hong Kong platform will remain live until April 7.
 

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COMMENTS
Ed 12 hrs ago
Cutthroat competition: will Deliveroo Hong Kong closure affect food delivery riders?
 
‘Deliveroo’s pay is not attractive at all. When it was raining last Friday, it only offered HK$30 per order while [Foodpanda and Keeta] almost tripled it,’ Tam Yuen says  https://archive.md/9BXu4#selection-1163.0-1163.169
 
 

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