HappyFresh to Focus on Indonesian Operation Amid Restructuring Plan

By Editorial Team 28/09/2022
supermarket
Summary

E-grocery startup HappyFresh is back in operation in Indonesia after obtaining fresh funds from debts. According to Bloomberg on Sept 21, HappyFresh won loans from Genesis, Innoven, and Mars for an undisclosed amount. HappyFresh's management said operations in its home market are restarted after a strategic review. "We will work closely with Genesis, Innoven, and Mars on restructuring the business," the management said.

HappyFresh also reappointed Guillem Segarra as Chief Executive Officer, Frederic Verin as Chief Financial Officer, and Christoph Krauss as Chief Operating Officer after stepping back from their duties. HappyFresh's management said it will now focus on Indonesia while considering the option of closing its business in Thailand and Malaysia.

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