Despite the planned bankruptcy, Kika/Leiner promises that all vouchers will remain valid. That should be possible because the new owner, Hermann Wieser, will assume responsibility for it through his companies, a spokesperson for the furniture chain said on Friday when asked.
Because in the context of the insolvency estate, vouchers should not be made better than other claims, as lawyer Michael Poduschka recalled in an interview with APA. The receivables also include down payments for future deliveries.
Furniture store wants to fulfill outstanding orders
However, as part of the follow-up plan, it must be ensured that all outstanding orders are executed and the advances made are settled in full, according to the spokesperson. This way, customers would not lose their deposits.
Lawyer: “Redeem vouchers quickly!”
Like the VKI, Poduschka advises caution despite the guarantee. “If I had a voucher, I’d run over and redeem it right away,” he recommends. Because it is “the truth that a guarantee is only as strong as the guarantor”. The lawyer suspects that the announcement of the new Kika/Leiner owner is mainly intended to prevent the storming of the shops.
Haven’t made a profit in years
Kika/Leiner have not been able to make a profit for the past five years. The liabilities (liabilities) of the furniture chain recently sold by real estate juggler Renè Benko are said to be around 300 million euros. However, the existing assets are only 150 million euros, it is said.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
