Woolworths plans to revive fallen fast grocery retailer milk run looming, teased its planned reappearance with an Instagram video of Wednesday’s arcade reboot.
The company gained a legion of loyal customers over the past two years with its super-fast delivery and reasonable pricing, before failing to secure more funding close the door As investors wary of cash-burning start-ups.
its failure, along with Several other courier companies Backed by venture capital funding totaling more than $100 million, it symbolizes the boom and bust of a startup bubble fueled by low interest rates and lockdowns.
At that time Woolworths established its own fast delivery system A partnership with Uber, called Metro60, could be rebranded as a new version of Milkrun.
The nature of Woolworths’ deal with Milkrun is unclear, but one possibility is that it bought Milkrun’s customer list and brand rather than physical assets.If so, it would address major weaknesses milk run, previously had to rent its own expensive warehouse in the city center and negotiate individual deals with suppliers on a much smaller scale than Woolworths. Under such a deal, it would become part of the retail giant, with Woolworths gaining access to fashion brands popular with younger shoppers.
Both parties were contacted for comment on Wednesday evening, but both declined to immediately respond.
Although Milkrun’s Decided to close last monththe company co-founded by entrepreneur Dany Milham never made it into management like almost all companies that fail, and technically continued to trade.
At the time, Millom said: “We have been committed to doing things the right way and closing the business with us still having sufficient cash balances that allow us to ensure our employees and suppliers are fully paid.”