Articles by David Swan,Jessica Yun

Food delivery service Menulog to shut down after two decades

The closure leaves Uber Eats and DoorDash dominating Australia’s increasingly competitive food delivery market, which has faced persistent profitability pressures. Deliveroo exited the Australian market in 2022. About 120 employees will be provided with redundancy packages, and eligible couriers will be entitled to four weeks of “voluntary payment”. The decision was made by Menulog’s new European owner, Prosus, a Dutch investment company that acquired Menulog parent company Just Eat Takeaway.com for €4.1 billion ($7.3 billion) earlier this year. Prosus is focused on core markets in Europe, and the Australian closure is not related to Australia’s financial performance, said a source who was not authorised to speak publicly on the matter. “This strategic decision reflects our focus on accelerating growth and investments in other markets and to deliver the best experience for customers, partners and couriers,” Just Eat Takeaway.com said in a statement.

15 hours ago