Food delivery platform Deliveroo to exit Hong Kong market in April

On-demand food delivery platform Deliveroo will exit the Hong Kong market next month through a sale of certain assets to rival Foodpanda amid punishing competition.

Deliveroo said on Monday that it had nominated liquidators to manage closure of the business and the remainder of its assets in the most efficient way.

Deliveroo Hong Kong’s platform will remain active until April 7.

The development comes less than two years after mainland Chinese rival Meituan’s Keeta entered into the Hong Kong market and obtained a significant share.

More to follow …