Ghost Grocer ceases operations, citing war in Ukraine
Citing the war in Ukraine and “subsequent funding restrictions,” superfast grocery delivery provider Buyk—whose founders got their start in a ghost grocery store in Russia—announced on March 17 that it had ceased all operations. The company said in a press release that it had filed a voluntary petition for relief under Chapter 11 of the bankruptcy code with the U.S. Bankruptcy Court for the Southern District of New York.
“We have been diligently exploring all possible options and partnerships to restructure Buyk and maintain the business,” said CEO James Walker, who took over the company from the co-founders. Slava Bocharov and Rodion Shiskov in November, in a report. “However, the war in Ukraine and subsequent funding restrictions unfortunately made it impossible to continue operations.”
Buyk, which launched service in Manhattan in September 2021 promising delivery to customers’ doorsteps in 15 minutes or less, said it intended to use Chapter 11 to end operations and dispose of inventory and assets. As of March 4, the company ceased all operations of its 39 stores in New York and Chicago.
“I am extremely proud of the entire Buyk team for their incredible accomplishments since launching the business last year,” Walker added in a statement. “They are truly some of the most talented and dedicated people I have had the pleasure of working with in my career, and I wish them much success in the future.”