A famous home shopping delivery platform is experiencing its last hours in France. The management announced this Thursday, April 18, that it would cease payments and go into liquidation.
In France, rising prices are wreaking havoc in all sectors. In recent months, many ready-to-wear, cosmetics, and even DIY brands have announced that they are going bankrupt, sometimes to the point of having to close their stores or go out of business altogether. Today it is the turn of delivery platforms to be affected by the crisis.
It is more precisely the “quick commerce” companies, that is to say express home delivery of groceries, which are suffering the most. As reported 20 minutes, they are throwing in the towel one after the other, in particular because of inflation and the tightening of regulations on the French market. Among them, the Flink company has in turn decided to give up.
The rest after this ad
Judicial liquidation and cessation of payments
Indeed, the management of the home shopping platform, which has 218 employees on permanent contracts in France, announced on Thursday April 18 its intention to enter into liquidation. “Flink will be liquidated,” revealed Guillaume Luscan, president and CEO of Flink. This decision follows a declaration of cessation of payments before the Paris commercial court.
According to him, the company was affected by several factors, including the inflationary context, significant regulatory pressure but also a lack of investor interest in the sector. If Flink was the last platform to focus exclusively on the French “quick commerce” market, it ultimately succumbed to its difficulties.
The rest after this ad
A failed rescue attempt
Last September, Flink, like several other platforms specializing in express home delivery of groceries, was in receivership. By then, Guillaume Luscan, the German parent company and Algerian start-up Yassir had joined forces to take over the company, renaming it New Flink France. Thanks to this rescue operation, more than 200 people on permanent contracts, or 56% of the workforce, were able to be maintained.
Guillaume Luscan stressed that, despite his efforts to save the company (noting an improvement in profitability of 80% over one year) the financial context had become extremely difficult. The rise in inflation has notably had a significant impact on product purchasing conditions, while investors have lost interest in the sector after the recent setbacks in “quick commerce”.
Head of section
Rights of women and children, violence, feminism, gender, discrimination, parenthood, education, psychology, health, couple, sexuality, social networks…. Joséphine loves deciphering all the social issues that drive our world…