Panier Bleu has pulled the plug. The platform confirmed Wednesday that it was winding down its operations, effective immediately. It said revenues were not enough to ensure the survival of the Quebec merchant platform.

 Le Panier Bleu said it needed more investment to grow. The company's shareholders, including the Quebec government through Investissement Québec, came to the conclusion that the operation would have been too costly, explained the Economy Minister Pierre Fitzgibbon in an interview.

It would have needed 'probably' another $20 million into the company, according to estimates quoted by Fitzgibbon. "That's still a lot of money."

Le Panier Bleu had far fewer merchants on its platform than it initially hoped, with 600 registered sellers. In October 2022, former boss Alain Dumas said the organization had set a goal of bringing in around 1,000 merchants by the end of 2023.

Le Panier Bleu never succeeded in establishing itself in Quebecers' shopping habits. Only 7 per cent of the province's online transactions were made on the platform in 2022, according to the most recent NETendances survey.