Nov 9, 2022 – 12:07 PM
The merger of the two Swedish parcel delivery companies Instabox and Budbee has consequences for the Dutch activities that have been left behind. The two companies recently announced that they would merge under a new holding company; Instagram. At the end of October, they received the green light for this from the Swedish Competition Authority.
Apparently there are quite a few debts left behind in the Netherlands on the part of Instabox, because the old companies Instabox Netherlands and Red je Pakketje were declared bankrupt by the Amsterdam court yesterday, along with a few other BVs at the same address. The bankruptcy also has personnel consequences. According to an internal email, from which Transport Online quotes, the company will soon have a meeting with the staff.
Instabox was founded in Stockholm in 2015 and has expanded its delivery service with smart automated parcel lockers. Until recently, Instabox was active in five countries (Sweden, Norway, Denmark, the Netherlands and Germany).
For the Dutch market, Instabox acquired Red je Pakketje last year. Quote estimated the acquisition amount last summer at 25 million euros. It was already known that Red je Pakketje suffered a loss. Shareholders’ equity amounted to 1.2 million at the end of 2021. The loss came to 11 million.
The spokesperson for Instabee in the Netherlands cannot answer questions about Instabox and the curator refers highly unusually to the Swedish spokesperson for Instabox. He only says that the bankruptcy is separate from the merger.
Founder Sam Rohn of Red je Pakketje reacts dismayed at Quote. ‘I am deeply shocked and deeply moved by today’s news. With the withdrawal of Instabox Netherlands, Instabox is also pulling the plug on what used to be Red je Pakketje, the company to which I – along with many others – have given my soul and bliss for more than 7 years.’
He also has to guess at the reasons behind the bankruptcy. “This is something that was decided completely beyond my control after I left.”
The Dutch activities have recently come under Instabee. This company will continue the Dutch delivery activities and will therefore not be affected by the bankruptcies.
