HappyFresh Officially Announces Exit From Malaysia, Effective Immediately
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Online grocer HappyFresh has officially announced that it is ceasing operations in Malaysia, effective immediately. This came following a period of suspension in service that began at the start of this month.

In a social media post, the online grocer expressed appreciation for its customers’ support over the past seven years, since its entry into the Malaysian market. “Due to the current economic situation, however, we were left with no choice but to cease operations, effective immediately,” it noted in the post, without explaining further.

Earlier this month, HappyFresh was reported to have temporarily suspended its service due to a restructuring exercise. A report by Bloomberg also highlighted that the online grocer was conducting a review of its financial situation, and had faced difficulties in raising additional capital to fund its operations. It also engaged turnaround firm, Alvarez & Marsal Holdings LLC, for assistance.

Fast forward to today, DealStreetAsia reported that HappyFresh has successfully raised fresh funding to continue its service. While details on the new funding were scarce, the online grocer said that it has decided to scale down and will only resume operations in its biggest market, Indonesia. Aside from Malaysia, it will also be exiting Thailand.

HappyFresh was founded in Jakarta in 2014, and entered the Malaysian market in early 2015. Since then, it has expanded to hire over 850 employees.

(Source: HappyFresh)

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