News has obtained information indicating that Getir could face financial collapse within a few weeks as a result of shareholder pressure to reorganize the company’s governance and leadership.
On Monday, sources announced that Getir’s founder, Nazim Salur, would not get a tranche of finance worth tens of millions of pounds that was required to restructure the company’s Turkish operations unless the previously agreed-upon reforms were carried out.
Among them would be his departure as CEO of the company and the reappointment of Chief Strategy Officer Derya Erdemli, who was let go by Mr.
According to insiders, Getir might run out of money this month if a different kind of financing isn’t found.
The food delivery app, which was previously estimated to be worth around £10 billion, declared its departure from the UK last month, according to News, even though it still owed millions of pounds to Tottenham Hotspur Football Club, whose training gear it had sponsored.
Mubadala, the state investment vehicle of Abu Dhabi, and G Squared have already contributed tens of millions of pounds to help with its withdrawal from the UK, Germany, and the Netherlands.
But in order to carry out the leadership changes, Mr. Salur must call a shareholder meeting before approving the remaining financial package.
