Once known as an e-commerce market leader, Airlift, has decided to suspend its operations because of the prevailing funding woes throughout the country.
Speaking to a media source, Airlift representative told that from Wednesday their operations will close down. As per the media sources, up till last week, the company was looking for ways to raise its capital, however, the investors turned them down saying that it would take more or less two months for that.
According to the source, “In the next 30 days, airlift will work on releasing severance and closing its liability stream to mark a complete shutdown of operations, the offboarding process has already started. The senior management was notified about it three days ago”.
Airlift was dubbed as one of the fastest rising corporation reform corporate operations.
In the statement, the company also stated, “As part of our plans, Airlift will ensure that all of its employees are sufficiently protected and catered for – this includes supporting teammates with two (02) months of payroll for July and August, setting up a job placement platform, and creating support systems for aspiring entrepreneurs within our team who may be interested in starting new ventures.”