HappyFresh was in need of raising capital as debt owed to supermarkets, logistics partners and other clients were piling up. — Picture via SoyaCincau
By Alexander Wong
Thursday, 22 Sep 2022 3:39 PM MYT
KUALA LUMPUR, Sept 22 — Online grocery delivery service HappyFresh has announced that it is ceasing operations in Malaysia. Announcing their “last delivery” on their Facebook page, HappyFresh said they were left with no choice but to cease operations immediately due to the current economic situation.
In the past seven years, the delivery service said it has provided jobs for over 850 employees, insurmountable growth for many smaller specialty stores, and indescribable joy to all HappyFreshers who have had the privilege to deliver groceries to their customers.
It appears that the grocery delivery platform was facing some challenges and was undergoing a restructuring exercise to manage its mounting debt. According to DealStreetAsia, HappyFresh was in need of raising capital as debt owed to supermarkets, logistics partners and other clients were piling up.
After suspending operations in Malaysia two weeks ago, HappyFresh recently secured funding to resume online grocery operations but only in Indonesia. The funding amount wasn’t disclosed but it was reported yesterday that it will only focus on Indonesia while considering options for its Thailand and Malaysia businesses.
With the latest announcement by HappyFresh Malaysia on Facebook, it looks like a decision has been made to end operations in Malaysia for good. — SoyaCincau