And once again Kika/Leiner has gone bankrupt: the furniture giant is on the verge of collapse. What exactly does that mean for customers? Are your vouchers, deposits, etc. no longer worth anything? What else can they do? We have done the research for you!
It is not the first time that customers have had to wonder what happens to their Kika/Leiner vouchers, deposits, etc.: last year, restructuring proceedings had already been initiated against the furniture giant. This was beneficial to consumers at the time, “as the objective was to continue the business and thus customers were significantly better off than in a bankruptcy proceeding aimed at dissolving and exploiting assets,” says Dr. Petra Leupold, head of the ‘Legal Affairs’ department at the Association for Consumer Information (VKI).
“At that time, it was still possible to redeem the vouchers for the full amount in the branches and outstanding contracts – such as outstanding deliveries from purchase contracts – were fully fulfilled,” reports Leupold. But: “Now that the implementation of this restructuring process has failed, everything unfortunately applies to the affected customers as with any bankruptcy procedure.” And so the situation for customers no longer looks as rosy as last year.
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.
