Food delivery company Deliveroo has announced it will shut down operations in Australia.
In an email sent to customers, the company said it was a “difficult decision” but it faced “challenging economic conditions”.
“In Australia, we have concluded that achieving a sustainable position of leadership in the market is not possible without a disproportionate level of investment which would have highly uncertain returns.”
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The company has been placed into administration – a legal status where an independent party is placed in charge of resolving a company’s future. Companies usually appoint administrators when they are insolvent (unable to pay debts), or expect to be soon.
Customers will be able to access their accounts for another six months, but operations have ceased immediately and no more orders can be placed in Australia.
