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The recent global economic crisis has been tough for startups and large organisations alike. It has led to a rise in layoffs and shutting down companies globally across the sectors.
Amsterdam-based Local Heroes, an e-commerce platform established to support local shops and food markets, is the latest victim, at least temporarily.
Maarten Coumans, the founder of Local Heroes, announced on Friday that the startup would cease operations. However, a restart is still being considered.
The company announced its decision to shut down through an email to the customers. According to Maarten, the platform’s model proved difficult to scale without burdening local entrepreneurs with high commissions.