Copia’s Financial Struggles Lead to Initiation of Liquidation Process
- Copia Global, a Kenyan B2C e-commerce startup, will liquidate its assets to pay creditors.
- The company plans to lay off all employees and sell assets to settle debts.
- Copia's liquidation signifies the end of an e-commerce platform that served customers in rural and peri-urban areas.
The liquidation of Copia Global is unfortunate and highlights the challenges faced by B2C e-commerce startups in a tightening macroeconomic environment. It is a significant setback for the company and its employees, who will be laid off. The failure to secure additional funding ultimately led to the decision to liquidate assets and pay off creditors.
