Logistics service PickPoint informed the partners about the decision to stop working in Russia. It has been reported “Kommersant” citing the resources in the logistics market and the letter of the company’s CEO, Nadezhda Romanova.
According to the letter, PickPoint’s termination is due to financial difficulties resulting from a decline in turnover. According to Romanova, this was caused by the separation of Western retailers, which make up the bulk of PickPoint’s client portfolio, and the impossibility of obtaining financing from a Western investor.
The CEO’s message states that from April 4, the service will no longer accept new shipments from legal entities and individuals, and that undelivered or unclaimed shipments will be returned to customers from April 6 to April 30.
In February, it was reported that PickPoint, a major player in the delivery market in Russia, is experiencing financial problems due to a foreign shareholder. stoped accept applications to ship packages from most cities in the country.