The sale of quick commerce operator Flink to rival Getir is off, according to reports, however Flink is still set to lay off 100 workers.
German publication Manager Magazin reported that the sale to Turkish-owned Getir has been called off, despite Flink facing financing difficulties at present.
Elsewhere, newspaper Tagesspiegel reported that Flink is set to lay off 100 workers at its Berlin headquarters.
At the same time, Flink is set to receive €150 million in additional funding from investors, with REWE Group reportedly investing some €50 million in the company, and DoorDash also increasing its stake.
Despite the challenging economic conditions, the delivery firm's founder, Oliver Merkel, is eager to make the company profitable, Tagesspiegel said.
Rumours that Getir was to acquire Flink surfaced at the start of May, as the Financial Times reported that a deal was close to completion.
Read More: Grocery App Getir In Talks To Take Over German Rival Flink: Report
Getir and Jumbo
Earlier this week, Getir and Dutch retailer Jumbo announced the termination of their partnership with Gorillas, which began in January 2022. Gorillas was acquired by Getir towards the end of last year.
Jumbo stated in a press release that ending the collaboration between the two companies was a 'logical' one. The focus for Jumbo will now be on further growth through its own stores and online channel.
Read More: Dutch Retailer Jumbo To End Partership With Getir
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