Belfast Telegraph

'Fire sale' claim after City Link assets sold

By Alan Jones

Some assets of collapsed delivery firm City Link have been sold, sparking claims that a "fire sale" has started.

Administrator EY announced an agreement to sell cages, scanners and intellectual property to the DX Group for £1.1m.

Almost 2,400 jobs were lost when City Link went out of business over Christmas, while a last-ditch bid to save the company failed.

The company employed 23 people at its Northern Ireland base at Nutts Corner, Co Antrim.

Hunter Kelly, joint administrator of City Link, said: "This transaction represents our first step in realising the value of City Link Limited's assets. We will continue this process over the coming weeks, alongside conducting an orderly wind down of the company's operations."

Petar Cvetkovic, chief executive of DX, a parcels, mail and logistics firm, said: "It is very sad that City Link has been unable to continue as a going concern. 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."

Belfast Telegraph

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