Deliveroo to end operations in Hong Kong in April 2025

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An enhanced redundancy payment, going beyond government statutory requirements, will be offered to all employees, stated the company.

Food delivery platform Deliveroo has announced its decision to exit the Hong Kong market next month. This exit will entail a sale of certain assets to foodpanda and the closure of other assets.

According to the company’s statement, “there are several dynamics specific to the Hong Kong market which led the Board to consider strategic options and, given the Group’s commitment to disciplined capital allocation, determine that it would not serve shareholders’ best interests to continue to operate in Hong Kong.”

This comes as in 2024, Hong Kong represented 5% of Group GTV and had a 5 percentage point negative impact on International GTV growth. The market remains adjusted EBITDA negative.

The company told HRO that this move will only affect its operations in the Hong Kong market. For all employees currently based in Hong Kong, an enhanced redundancy payment, going beyond government statutory requirements, will be offered. 

Eric French, Deliveroo Chief Operating Officer, said in the statement: “We want to thank all our employees, consumers, riders and restaurant and grocery partners who have been involved in our operations in Hong Kong. We have been proud to serve so many people such amazing food over the past nine years.”

The delivery platform has already nominated liquidators to manage the closure of the Hong Kong business and the remainder of its assets in the most efficient way possible. This process will involve selling certain assets to its competitor, foodpanda, while other assets will be closed down.

Meanwhile, Delivery Hero SE, the parent company of foodpanda, has announced that it has signed and closed an agreement with Deliveroo.

"Following the closing of the agreement, Deliveroo customers and couriers in Hong Kong will be redirected, and certain vendors will be onboarded to the foodpanda platform," said the statement.

Deliveroo Hong Kong’s platform will continue to operate until 7 April 2025.