(c) TechWire Asia
The online grocery delivery business HappyFresh has revealed that it will be terminating its operations in the Malaysian market. Due to the current state of the economy, HappyFresh has decided that they are without an option but to immediately halt operations. They made this announcement on their Facebook page by posting about their “final delivery.”
The grocery delivery company claims that in the past seven years it has been responsible for the creation of jobs for more than 850 people, the insurmountable growth of a large number of smaller specialty stores, and the indescribable joy experienced by all HappyFreshers who have been given the privilege of delivering groceries to their customers.
It would appear that the platform for the distribution of groceries was experiencing some difficulties and was working through a restructuring exercise in order to control its growing debt. According to DealStreetAsia, HappyFresh was in need of obtaining finance since it owed a significant amount of money to several clients, including supermarkets, logistics partners, and other customers.
HappyFresh just received money to continue online grocery operations, but they will only be available in Indonesia. Prior to this, the company had temporarily halted their activities in Malaysia two weeks ago. The amount of financing that was received was not made public, but it was announced yesterday that the company will exclusively concentrate on Indonesia while evaluating its options about its companies in Thailand and Malaysia.
It would appear from the most recent post on HappyFresh Malaysia’s Facebook page that the company has come to the conclusion that it will be terminating its business activities in Malaysia permanently.
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