The value of online grocer Ocado has fallen sharply after Kroger, its major partner in the US, announced the closure of three warehouses using the UK company’s high-tech equipment.
Ocado signed a deal to build 20 automated warehouses – known as customer fulfilment centres – for Kroger, the US’s fourth largest retailer, in 2018. Eight of those facilities are currently operating with two more planned for next year. The deal was seen as a major part of Ocado’s plan to sell its online grocery delivery technology internationally.
