LAFAYETTE, La. (AP) - The chairman and CEO of Louisiana-based food delivery service Waitr says there are plans to increase cash flow as the company reported it was over $290 million in the red last year.
A news release Monday from Carl Grimstad reported the company's yearly financial results.
There was a net loss of $291.3 million last year. Grimstad became CEO in January and says management and personnel changes distracted from the company's focus on customers and operations.
He says the company is working on improvements such as providing more services for restaurant owners to grow their businesses, and transitioning drivers to an independent contractor model aimed at helping drivers earn more on their own terms.