The Board of Directors of Urb-it AB (Publ) ("Urb-it" or the "Company") has resolved to submit an application for the declaration of bankruptcy of the Company. The bankruptcy application is scheduled to be filed tomorrow, December 7, 2023, with the Stockholm District Court.
The board's resolution is based on the fact that (as has been communicated previously, on December 1, 2023) the Company's efforts to apprehend funding for its operations on both a short- and long-term basis have not yielded any viable results.
For further information please contact:
Urb-it Press Office: press@urbit.com
About Urb-it AB (publ) | B Corp certified
Urb-it is a sustainable logistics platform with a vision to transform urban logistics, one delivery at a time. We deliver urban logistics services that create a positive impact on society and the environment. We partner with brands to deliver the last mile sustainably and efficiently in urban areas across Europe.
Our customer-centric last mile delivery services are conducted by our employed couriers on our 100% e-cargo bike fleet. This reduces emissions, congestion, and noise pollution - creating healthier cities.
We are a B Corp certified business, meaning we meet and have committed to the highest verified standards of social and environmental performance. We are currently operating in urban areas in Europe's largest e-commerce markets - France, the UK, and Spain. Our ambition is to expand into other major e-commerce markets across Europe in the coming years.
In 2022, Urb-it won Best Supply Chain Solution Award at The Retail Supply Chain & Logistics Expo.
Founded in 2014, Urb-it is a Swedish entrepreneurial company headquartered in Stockholm and listed on Nasdaq First North Growth Market. Find out more at www.urb-it.com/about/investors#reports.
The Company's Certified Adviser is Redeye Aktiebolag.
This information is such information that Urb-it AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation (MAR). The information was submitted, via the above-mentioned contact person, for publication at 17.00 CET on December 6, 2023.