Africa Delivery Technologies (ADTL), the Dutch parent company of Nigerian last-mile delivery platform Kwik, has been declared bankrupt and placed under administration by an Amsterdam court following a court dispute with a former executive to whom the company owes about $50,000.
However, Kwik CEO Romain Peroit-Lellig insists that the company is financially sound. He says the filing does not affect Kwik’s operations in Nigeria, where it serves over 300,000 merchants, and recently raised $1 million in fresh funding.
This is the second known case of bankruptcy of a prominent logistics startup in Nigeria. In January, Gokada, another prominent last-mile delivery startup, filed for Chapter 11 bankruptcy,…
