ASAP, formerly known as Waitr, has shuttered its delivery business, according to a post on the company’s website.
The company wrote that after years of dedicated service, the decision has been made to close the delivery and carryout business.
“We’ve made the tough decision to cease operations. We write to you today filled with gratitude for your unwavering support and loyalty throughout our journey,” the post read.
According to a WARN notice filed with the Louisiana Workforce Commission, the company laid off more than 50 people from its Lafayette office in January of 2023. The cutbacks followed ASAP’s reported loss of $74.5 million in the third quarter of 2022.
The food delivery company was founded in Lake Charles in 2013 as Waitr and went public through a merger with Landcadia Holdings in 2018.
In 2022, it rebranded to ASAP due to a legal settlement. In 2022 ASAP operated in about 1,000 cities throughout the U.S. and ranked as the No.4 delivery provider. That same year it expanded services beyond meal delivery to offer retail items and in-stadium ordering at sporting events.
However, the company eventually ran out of steam, in light of competing with delivery giants such as DoorDash and Uber Eats which make up most of the market share.
In a former news release, ASAP stated its drop in revenue “came from fewer orders as a result from the highly competitive environment of the delivery business.”
Amid the closure of services, ASAP’s parent company, Waitr Holdings Inc. filed for Chapter 7 bankruptcy, via an 8-K submitted Tuesday, April 2, and let go of its C-suite executives.
