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Just Eat Takeaway.com NV on Tuesday said it plans to discontinue its operations in Romania, due to a lack of success in the country.
The Amsterdam-based food delivery firm said expects the discontinuation of its platform and delivery services to be effective as of June 1.
It explained that the competitive pressure, its relative scale and the overall market penetration for food delivery in Romania have been insufficient to sustain a healthy business.
‘With this in mind we have made the difficult decision to cease our operations in Romania. The closing of this market enables us to concentrate on sustainably profitable and market leading positions,’ Just Eat said.
It noted that it expects the impact on orders, gross transaction value and revenue for the company and its Southern Europe and Australia & New Zealand businesses to be immaterial.
Shares were trading 1.6% higher at 1,619.00 pence each on Tuesday morning in London.
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