Irish trucking company Masterlink Logistics will take over the business of insolvent parcels andhaulage firm Target Express and plans to re-employ many of the nearly 400 staff who lost their jobs
when the firm collapsed last week.Liquidators of Target Express have agreed to sell parts of the company, including the brand andcustomer lists, to Masterlink, and the sale has been approved by the Irish High Court, Irish mediareported. Masterlink apparently offered more than the one other bidder for parts of Target Expressbut will not take over its fleet.
Masterlink said it hopes to re-employ as many as possible of the near-400 people who worked forTarget Express, although this would depend on “customer support for the former Target Expressbusiness”. It will now talk with these customers to retain their business.
Dublin-based Masterlink, with some 350 staff at seven depots across the country, has annualsales of some €30 million from a range of transportation and delivery services, including timed andnext-day delivery of parcels and pallets to business and consumers, freight forwarding andlogistics services.
Target Express, registered as College Freight Ltd, was declared insolvent after the Irish taxauthorities froze its bank accounts over debts of some €500,000. Angry workers staged sit-ins atcompany premises and demanded payment of their salaries but agreed to end the protests afterthe company liquidators pledged they would be paid as quickly as possible.
Prior to its collapse, Target Express described itself as “the largest privately-owned transportand distribution company in Ireland” with 12 depots in the Republic of Ireland and four in the UK,as well as four logistics warehouses.
