Instabox Netherlands declared bankrupt

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The Dutch branch of Instabox has been declared bankrupt. Instabox, known for its red parcel lockers, only recently declared to join forces with parcel deliverer Budbee under the name Instabee.

Swedish delivery service Instabox entered the Netherlands last year. That same year, the company acquired Dutch competitor Red Je Pakketje. Instabox has just announced a merger with Budbee, another Swedish parcel deliverer, under the name Instabee.

Consumers have to contact store for parcel

A court in Amsterdam has declared the Dutch branch of Instabox bankrupt. The Dutch website says that a bankruptcy trustee has assumed responsibility of the company. Customers that are waiting for a package or want to return their parcel, have to contact the online store involved, Instabox says.

A trustee assumed responsibility of the company.

Future operations uncelar

It is unclear what the bankruptcy means for Instabox’s operations in the Netherlands and its affiliated online stores. According to an internal email in the hands of Transport Online, there will be talks with employees soon.

Red Je Pakketje, a Dutch delivery service which the company acquired in 2021, currently has 14 employees. The takeover was estimated to be worth 25 million euros by Dutch magazine Quote.

Unforeseen

The bankruptcy seems to come as a surprise for partners and online consumers. Instabox is a market leader for parcel lockers in the Netherlands. The service also announced a merger with competitor Budbee as recently as September. The companies would join forces under a new holding called Instabee. The holding should operate in 7 European countries, including the Netherlands.

Update November 11th: That the bankruptcy came as a surprise was also confirmed by Dutch news site Emerce. According to employees, the merger took place to get rid of old debts of Red Je Pakketje. In total, 984 employees of Red Je Pakketje and Instabox Nederland will lose their jobs.

The above article “Instabox Netherlands declared bankrupt” was published here.

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