- 20 May 2022
- Transport / Logistics Services
London based rapid grocery delivery company Jiffy has ceased all customer facing operations effective this week. The company is making a ‘strategic pivot’ to become a rapid delivery software specialist company.
The news is unsurprising considering no business in the sector has made a profit yet, but for Jiffy software support for such businesses will become its ‘complete focus’.
Deliveries have already ceased but click & collect services from its dark stores will continue for around a week.
Launching in April last year, Jiffy has been offering deliveries of food and convenience items within 20 minutes of ordering from its 14 dark stores across the Capital.
According to the company it is holding discussions with riders and warehouse staff regarding their future before gradually downsizing its store estate and staff in that side of the business.
“That was the toughest part of the decision, obviously,” Jiffy CEO Vladimir Kholiaznikov told The Grocer.
“This was a difficult decision to make, and one that was only made after careful consideration, but it is a decision that will ensure Jiffy continues to build sustained, long-term growth in the future – to the benefit of our customers, suppliers and investors.”
This is not the first failure of a business in rapid grocery delivery in recent months, but given the firm is changing direction as opposed to completely going under, it will mean better news for its investors. Larger firms like Deliveroo and Just Eat still operate on getting investment from promises that one day they may achieve profitability – whenever that may be…