Masterlink Logistics plans to take on Target Express staff
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By Chris Tindall DUBLIN OPERATOR Masterlink Logistics wants to employ as many Target Express employees as possible after buying the defunct company’s goodwill and assets.
Masterlink struck a deal with [provisional] liquidator Grant Thornton earlier this month, which also included buying the failed irm’s customer book and intellectual property, and is now attempting to win back key customers.
College Freight, which was known as Target Express, ceased trading at the end of August (CM 30 August) after Ireland’s Revenue froze the company’s bank account due to an unpaid debt.
Target Express had 12 depots, four of which were in the UK, and employed approximately 400 people – 300 in Ireland and 100 in the UK. Its UK operations, which are registered at Companies House as College Freight Services (NI), are not believed to be part of the deal.
A Masterlink Logistics statement said: “It is not possible to indicate exactly how many jobs will be restored at this point in time. However, we will be seeking to restore as many of the jobs that were lost as possible, and in that respect will be in contact with all the key customers, many of whom have found interim solutions, and will appeal to them to reinstate their business.” Joint liquidators Michael McAteer and Stephen Tennant said: “Masterlink will try to retain as many Target Express customers in Ireland as possible, which will hopefully secure as many jobs as possible.
“We would like to thank Target Express employees for their engagement and co-operation over the past few days, which facilitated us in securing this sale.” A ‘sit-in’ organised by Target’s Wexford staff in the days following its closure ended only after the liquidator assured them they would be paid.
Masterlink employs more than 350 staff and operates out of warehouse facilities in Dublin, Cork, Down and Galway.