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City Link assets sold to DX Group

The administrators for the collapsed parcel delivery firm City Link have sold more than £1 million worth assets to rival logistics business DX Group.

GENERAL MERCHANDISE

City Link assets sold to DX Group

DX Group, which floated on London’s Alternative Investment Market last year, has acquired cages, scanners and certain intellectual property in a deal worth £1.125 million.

Petar Cvetkovic, chief executive of DX Group, said: "It is very sad that City Link has been unable to continue as a going concern, particularly for its employees and contractors. The administrators are now proceeding with an orderly sale of assets and we have made a limited investment to acquire certain assets.

"We are also doing all we can to provide opportunities for former City Link employees and contractors and to offer solutions to Customers who may need a new carrier." 

Cvetkovic is the former managing director of City Link.

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