DX, an independent parcels, mail and logistics network operator, announced that it has reached agreement with the administrators of City Link Limited to acquire certain City Link assets, comprising cages, scanners and certain intellectual property, for a total cash consideration of £1.13m.
Petar Cvetkovic, Chief Executive of DX 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.”
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