The parent company of Nigerian logistics startup Kwik has been declared bankrupt by a court in Amsterdam, following a lawsuit filed by a former employee.

Despite the bankruptcy ruling, Kwik’s CEO, Romain Poirot-Lellig, maintains that the company remains solvent and operational.

Unlike Gokada’s high-profile Chapter 11 bankruptcy in the United States—a legal process designed to restructure a company’s finances under court supervision—Kwik’s bankruptcy was not initiated by the company itself. Instead, it was triggered by Adam Grant, the startup’s former head of marketing, who was dismissed and later won a wrongful termination suit against the company.

Grant was awarded a $75,000 settlement to be paid in three installments. While Kwik paid the first, it withheld the second, citing concerns that Grant might not fulfill his tax obligations on the payout, potentially leaving the company liable for additional costs.

Grant returned to court, arguing that Kwik’s parent company was unable—or unwilling—to pay its debts. He bolstered his claim by highlighting other outstanding debts the company owed. The Amsterdam court ruled in his favor, placing the parent company under administration. A court-appointed administrator will now manage the company’s finances to ensure creditors are repaid.

Adding weight to Grant’s case was B54, a startup that provides credit lines to other businesses. B54 had previously attempted a similar bankruptcy action against Kwik in Nigeria in 2024 but was unsuccessful. The firm joined Grant in the Dutch filing.

Kwik’s CEO acknowledged the company’s obligations and confirmed it had raised $1 million in funding earlier this year. He insists the company is not insolvent and remains committed to settling its debts.