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After ups and downs, food delivery startup Epicery closes shop
French food delivery startup Epicery will cease operations Tuesday, after one last holiday season hurrah for its clients and the local food businesses
It was still riding that wave in late 2021 when Geopost/DPDgroup, the express parcel delivery branch of Groupe La Poste, which handles France’s national postal service, took a majority shareholding in the company. In a statement shared with TechCrunch, Geopost stated that the decision was made “following an in-depth analysis of [Epicery’s] financial and operating performance” leading to the conclusion that “the subsidiary’s short- and medium-term profitability has been severely impacted by developments in the food delivery market, a gradual post-COVID return to direct consumption from local shops, and strong competition in the catering segment.” This could have made sense as a standalone, lifestyle business, but arguably less so as a VC-backed one, and even less so as part of a large group where numbers like these hardly move the needle, especially with the Stuart synergies gone.
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