Business exodus continues: leading online restaurant reservation platform leaves Argentina

An international brand leaves the country. In this case, it is TheFork, one of the leading online restaurant booking platforms in the world., which would also take a similar decision in other countries in the region, such as Brazil. This is a company of the giant TripAdvisor, which in 2019 bought Restorando, a regional startup born in the country and a pioneer in the field.

“We have decided to stop our activities in Argentina as of October 31,” indicates the email sent to users.

“The shutdown in Argentina was a difficult decision, but the Covid pandemic had a sudden and significant impact on the global economy, and this sector was no exception. For this reason, we have had to implement cost reduction measures that include a reduction in TheFork’s geographic presence. Therefore, as of November 1, neither TheFork’s website nor the app will be available, ”added the brief email. “Our sincere apologies for any problems this may cause you,” the farewell message concludes.

As he could know Infobae, the impact of the pandemic on the sector is the main reason for the company’s departure from the country, which will also shift its focus to other markets, notably Europe. According to union sources, only 2,500 stores have closed permanently at CABA, including La Parolaccia Casa Tua, Sottovoce and La Bistecca. El Cronista newspaper reported in April that in Puerto Madero, 12 of 40 restaurants in the area had closed.

Catering at TheFork

In 2019, the LaFourchette group arrives in Argentina with the Restorando review and begins to develop its brand in the country. It has more than 65,000 restaurants in 17 countries worldwide.

“It is a great satisfaction to announce this relaunch of the platform resulting from the union with TheFork, which not only strengthens our positioning on the local market, but also extends and connects us to an international network with more than 60 000 restaurants and millions of diners all over the world, to continue promoting the online reservation market ”, he then declared. Franck martin, co-founder and CEO of Restorando TheFork for Latin America (Spanish speaking countries). For over a year, Martin has been no longer in charge of the company, but has been working directly on the strategic development of TripAdvisor.

Restorando was founded in 2011 by Martín – industrial engineer from Austral University and entrepreneur Endeavor– and Franco Silvetti and it has become the leading restaurant reservation platform in Argentina and the region. It had operations in 7 countries and was based in Buenos Aires with offices in São Paulo, Chile, Bogotá and Mexico City.

As detailed by Infobae a few days ago, there are already more than 20 multinationals that have ceased to operate in the country. One of the last was the American pharmaceutical company Eli Lilly. As they explained, the decision was due to a change in the “business model” in the country and the fact that Laboratorios Raffo, an Argentinian company, will have the marketing rights and health records for its products.

Other big companies that have left the country are supermarket chain Walmart, Chilean Falabella and airline Latam. Other airlines that have gone out of business are Air New Zealand, Emirates and Qatar Airways, as well as some that have suspended flights for the time being – British Airways, Ethiopian, Cubana de Aviación, Air Canada, Sky and the Brazilian Gol and Azul – and others who have changed their models, such as Alitalia.

Among those who have ceased their activities or reduced their local presence are also the low cost Norwegian, BASF, Axalta, PPG, Pierre Fabré, Saint Gobain Sekurit, Under Armor, Gerresheimer, Brighstar, Glovo and Asics.

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