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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Logistics»Kwik’s Parent Company Declared Bankrupt in Netherlands, But Operations in Nigeria Remain Unshaken
    KWIK DELIVERY ROLLS OUT ITS NEW AND BIGGER KWIK BAG 2.0 ISOTHERMAL BAGS ACROSS LAGOS

    Kwik’s Parent Company Declared Bankrupt in Netherlands, But Operations in Nigeria Remain Unshaken

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    By Staff Writer on May 25, 2025 Logistics

    Africa Delivery Technologies Holding, the Dutch-based parent company of Nigerian logistics startup Kwik, has been declared bankrupt by a court in Amsterdam following a creditor-led legal dispute. The bankruptcy, however, does not directly affect Kwik’s daily operations in Nigeria, where the company continues to serve over 300,000 merchants and recently secured $1 million in new funding to support expansion.

    The ruling stems from a legal conflict involving a former employee, Adam Grant, who served as Kwik’s head of sales. Grant sued the company over wrongful termination and unpaid wages. After initially being awarded $120,000 in salary claims, a settlement was reached for $75,000, of which Kwik paid only $25,000. The company withheld the remaining amount over concerns about potential tax implications in France. Grant, however, declined to resolve the tax issue and instead petitioned the Dutch court to declare the company bankrupt.

    The court sided with Grant, stating that no further taxes were due, and appointed a trustee to manage Africa Delivery Technologies Holding’s financial affairs. The bankruptcy means that creditors now have a path to recover owed funds, including the potential sale of company assets under judicial oversight.

    Adding to the pressure, other creditors have surfaced. B54, a startup lending firm, alleges Kwik owes them $50,000 and is pursuing liquidation proceedings in Nigeria. Meanwhile, Guardian Nigeria has also filed a case over unpaid rent on a warehouse leased to the company. Kwik claims it hasn’t been formally notified of that case.

    Despite mounting legal and financial disputes, Kwik’s CEO Romain Peroit-Lellig insists the operational entity in Nigeria remains financially healthy and unaffected by the parent company’s troubles. He emphasized that Kwik has raised a total of $6 million to date, owes about $2 million in convertible notes (a form of debt that can convert to equity), and continues to pay employees, vendors, and delivery riders without interruption.

    “Kwik is not insolvent. Our Nigerian operations are solid, we continue to grow, and we are actively working to resolve the dispute with Grant’s legal team,” Peroit-Lellig said in a statement. He noted that the company had attempted to reach an amicable solution with B54 as well but had not been able to connect with their representatives.

    Kwik has reassured stakeholders that its services will continue without disruption and expressed gratitude to its customers, partners, and investors for their ongoing support. “We remain committed to delivering value and reliability,” the company stated, projecting resilience in the face of corporate setbacks at the holding level.

    While legal and financial hurdles remain, Kwik is banking on operational strength and stakeholder trust to navigate the storm—and continue delivering, quite literally, on its promises.

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