French Food Delivery Startup Epicery Shuts Down After 9 Years of Operation
Epicery, a French food delivery startup, will cease operations following economic challenges and a negative EBITDA of -€4.69 million in 2023. The company, which focused on premium groceries with a 25% commission model, struggled as inflation impacted consumer spending. Despite early pandemic success, it could not sustain its growth against rising competition. Geopost, which held a majority stake, cited severe profitability issues as a reason for the shutdown. Epicery's CEO remains optimistic about future digital initiatives in the food sector, while employees will receive support for new job opportunities.
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