Getaround announce wind-down of U.S. operations

Getaround (GETR) announced that it has plans to commence an orderly wind-down of its U.S. business operations, which includes its car-share and HyreCar businesses. Getaround’s European business will continue operating to provide car-sharing services for customers in all current European markets. Getaround, together with its financial and legal advisors, engaged in an extensive analysis of all available alternatives to identify a solution that would allow the U.S. business to continue. The company ultimately determined that an orderly wind-down of the U.S. business is necessary to maximize the value of Getaround’s assets for all stakeholders.