Milan, July 4th, 2022: As we announced on May 24th, we have decided to sharpen our focus on Germany, France, the UK, the Netherlands, and the US (New York City). The vast majority of our revenues (90%) come from these key markets.
In the case of our Italian presence, although we are still carefully evaluating various strategic and financial alternatives, including the sale of the company or the entry of new investors, we have not yet reached a level of concreteness in these negotiations that would clearly point to a successful outcome. This is why we have decided to start a gradual process that would ultimately end with the closing down of our business in Italy.
At this point we have already closed 3 of our warehouses in the city of Milan, Rome, and Bergamo, and are planning on closing the rest of the warehouses across the country in the coming weeks. Until then and while stock levels allow it, we will continue delivering our customers.
This decision has important implications for our crew in Italy. All of them have already been informed of our plans for this market and we have started conversations with unions as we begin the collective dismissal process.
After more than a year of operations in Italy, this was a very difficult decision to make for our team in Italy and for the entire Gorillas family. We have been fortunate to welcome talented and deserving people to our community, and are very grateful and thankful for their hard work and dedication. We wish them the very best for their future endeavours.