Moorfields Advisory Appointed over on demand delivery platform Jinn
Nicholas O’Reilly and Simon Thomas of leading restructuring and insolvency firm, Moorfields Advisory, have today 19 October 2017 been appointed Administrators of Ridee Limited t/a Jinn.
The Company launched its on-demand delivery platform called Jinn in 2014 and connected mobile customers with merchants and couriers to deliver restaurant food and other goods in London.
Nicholas O’Reilly, Administrator “Jinn developed a state of the art platform for on-demand delivery and acquired a loyal customer base. Unfortunately, it operated in a fast growing and competitive market place with substantial costs of entry and lacked the funding required to establish a profitable business”.
On Tuesday 17 October 2017, the Company’s Board of Directors ceased to operate the business including the shutdown of its App and took steps to place the Company into Administration.
Moorfields will continue to explore the sale of the Company’s assets including the software platform, website and established databases.
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