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…
