Russian-backed online grocery store Buyk files for bankruptcy and officially ceases operations – Produce Blue Book
The company intends to use Chapter 11 proceedings to terminate its operations and dispose of its inventory and assets. As of March 4, the company ceased all operations of its 39 stores in New York and Chicago.
NEW YORK-(BUSINESS WIRE)–Buyk, the real-time retail grocery delivery service that launched in New York and Chicago in 2021, has filed a voluntary petition for relief under Chapter 11 of the bankruptcy code in the United States Court of bankruptcies in the Southern District of New York.
The company intends to use Chapter 11 proceedings to terminate its operations and dispose of its inventory and assets. Since March 4andthe company ceased all operations of its 39 stores in New York and Chicago.
Buyk CEO James Walker said:
“We diligently explored all possible options and partnerships to restructure Buyk and maintain the business, however, the war in Ukraine and subsequent funding restrictions unfortunately made it impossible to continue operations.
“I am extremely proud of the entire team at Buyk for their incredible accomplishments since launching the business last year. They are truly some of the most talented and dedicated people I have had the opportunity to work with. pleasure to work with in my career and I wish them much success in the future.
Buyk is a real-time retail grocery delivery service that launched in September 2021 with a mission to give back time to American consumers. The company delivered groceries and essentials to customers’ doorsteps in 15 minutes or faster, with no minimum spend or delivery charges. Buyk operated a network of 39 stores in New York and Chicago.