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Russian-Backed Delivery App Buyk Faces Funding Crunch

  • CEO is furloughed along with 900 employees in the U.S.
  • Company’s Russian founders can’t send bridge financing
Outside a Buyk distribution center in Manhattan, New York in November 2021.

Outside a Buyk distribution center in Manhattan, New York in November 2021.

 Photographer: Spencer Platt/Getty Images

The future of one of New York’s highly competitive rapid-delivery apps, Buyk, is hanging in the balance because it can’t get financing from its Russian founders.

James Walker, who joined Buyk as chief executive officer in November from restaurant chain Nathan’s Famous Inc., told Bloomberg he was notified by the board that he was being furloughed indefinitely. “No timing was given, only that they’re working on a transition plan and managing the impact of the war in Ukraine,” Walker said. The New York Post earlier reported on Walker’s fate.