The company intends to use the Chapter 11 proceedings to wind down operations and dispose of inventory and assets. As of March 4th, the company has ceased all operations from its 39 stores in New York City and Chicago.
According to media reports the ultrafast grocery delivery service Buyk, based in Russia, has furloughed 98 percent of its staff and has suspended operations.
Buyk launched in the U.S. last year and is a spinoff of an app based in Moscow and St. Petersburg, and is backed by a Russian national bank, which has been sanctioned by the U.S. and the United Kingdom.
The New York Post reported on a recording of a conference call where Buyk CEO James Walker told workers he is doing everything he can to restart the company. “We’re looking for short-term funding that allows us to get the lights back on,” Walker reportedly said.
The company, which initially launched in New York and expanded to Chicago, recently partnered with Grubhub for ultrafast delivery, and was investing in its own private label groceries.
According to media reports the ultrafast grocery delivery service Buyk, based in Russia, has furloughed 98 percent of its staff and has suspended operations.
Buyk launched in the U.S. last year and is a spinoff of an app based in Moscow and St. Petersburg, and is backed by a Russian national bank, which has been sanctioned by the U.S. and the United Kingdom.
The New York Post reported on a recording of a conference call where Buyk CEO James Walker told workers he is doing everything he can to restart the company. “We’re looking for short-term funding that allows us to get the lights back on,” Walker reportedly said.
The company, which initially launched in New York and expanded to Chicago, recently partnered with Grubhub for ultrafast delivery, and was investing in its own private label groceries.
Pamela Riemenschneider is the Retail Editor for Blue Book Services.
