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Stockholm-based Instabox, a company that claims to transform last-mile deliveries for e-commerce, announced on Thursday that its Dutch operations Instabox Netherlands B.V., Red je Pakketje B.V., and their subsidiaries have declared bankruptcy.
A court in Amsterdam has approved the application for bankruptcy and a Trustee has assumed responsibility for the companies and their employees, customers, and partners.
Last year, Instabox made its debut in the Dutch market by acquiring Red je Pakketje, an Arnhem, Netherlands-based logistics company that provides same-day deliveries.
A total of 984 employees of Red je Pakketje and Instabox Netherlands have been affected by the bankruptcy.