Losses are mounting at Deliveroo as it struggles to compete in an increasingly competitive market. The business reported losses of £147m in its first half despite it having achieved a ten per cent rise in orders to 160m. The impact that inflation and general economic concerns will have on consumer spending will likely lead to a more restrained market in the months ahead.
Lord Simon Wolfson, Next CEO, who has spent eighteen months on the board of Deliveroo in a non-executive capacity has stepped down due to other commitments.
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