The Food Delivery platform Swiggy has announced that the company has vend off the Cloud Kitchen Platform Access Kitchen to the kitchen furnishing brand Kitchen@ on Thursday, 2nd March 2023 in a share swap exchange.
About the Swiggy’s Vend Off of Access Kitchen to Kitchen@
The Bengaluru based food Delivery Company has proceeded with the initiative to sell off the Access Kitchen to the Kitchen @ is due to the company’s initiative to reduce the expenditure made by the company on the unprofitable sectors of the company amongst the macroeconomic circumstances.
According to the reports, the cloud kitchen platform Access kitchen has been striving hard with the increasing expenses and the unsustainable economies. However, the details of the deal between the two parties has been undisclosed.
The company has also paid off about 380 of its employees in the month of January along with closing off its meat business in order to reduce the expenses.
The Food Technology Company Swiggy has now become one of the shareholder of the company Kitchen@ by selling off the Access Kitchen platform founded by the company to Kitchen@.
About the Swiggy’s Access kitchen
Swiggy established its cloud kitchen platform Access Kitchen in the year 2017 with the aim to provide the restaurant partners to open up the cloud kitchens in the places where it was not opened before and also to decrease the time in delivering the food.
Photo Credit- BW Disrupt
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