The announced reorganization procedure without self-government at furniture chain Kika/Leiner was opened on Tuesday at the regional court in St. Pölten. Creditors are offered a quota of 20 percent, payable over two years. You can submit your claims until August 8.
Lawyer Volker Leitner from St. Pölten has been appointed as trustee, the credit protectors AKV, Creditreform and KSV announced on Tuesday. The first creditors’ meeting is scheduled for August 21 and the vote on the composition is scheduled for September 25.
Simultaneously with the opening of the restructuring procedure, a creditors’ committee was set up which, according to the AKV, will investigate the accession of the administrator to the outstanding contracts and the closure of the 23 branches. “The coming weeks will show whether the restructuring efforts can actually be sustained,” explains KSV1870 insolvency expert Brigitte Dostal.
Source: Krone
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