Food delivery firm Deliveroo said Monday that it would end operations in Hong Kong next month after striking a deal with local competitor foodpanda. Deliveroo will close its operations by selling some assets to Singaporean firm foodpanda and by closing other assets,

On-demand food delivery platform will shut on April 7; company cited tough competition and financial losses as reasons for closure.

Online food delivery firm Deliveroo said on Monday it is leaving Hong Kong for financial reasons, after operating in the SAR for nine years. Its

(Reuters) -British meal delivery company Deliveroo said on Monday that it will exit its Hong Kong operations by selling some assets to Delivery Hero's foodpanda for an undisclosed amount, and by closing other assets.

British online food delivery company Deliveroo will pull out of the Hong Kong market next month, after nine years. It told customers it was unable to provide a “great service,” while a press release said continued operations in Hong Kong did not serve their shareholders.