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Just Eat Takeaway Records 3 Billion-Euro Hit on Grubhub

  • Orders slow on the company’s platform following pandemic surge
  • COO Jorg Gerbig will be nominated for re-election after probe
Updated on

Just Eat Takeaway.com NV wrote down the value of its US-based Grubhub unit by 3 billion euros ($3.1 billion) amid plunging stock market valuations and rising interest rates, a sign of the difficulty facing the business after it was acquired for about $7.3 billion last year. 

The Amsterdam-based company also reported that orders slowed in the first half of the year after customers returned to restaurants and shops following Covid-19 lockdowns, the company said in a statement on Wednesday.