Deliveroo losses soar to £147m as cost of living crisis bites

Food delivery company also announces that Next boss Simon Wolfson has quit its board

Losses at Deliveroo soared by more than half to 147m in the first six months of the year, with the embattled company facing a dramatic slowdown in revenue growth as the cost of living crisis affects the demand for takeaways.

The London-listed company also announced that Simon Wolfson, the chief executive of the clothing retailer Next, is to step down from the board with immediate effect.