After Kika/Leiner had to file for bankruptcy for the second time, a restructuring plan was actually planned. As announced on Wednesday, the furniture retailer has withdrawn and declared bankruptcy.
They actually wanted to wait until mid-January to decide what to do next with the ailing furniture giant. By that time, the trustee would have assessed whether a positive continuation prospect for the company was possible.
Future of the company unclear
Now it is clear: Kika/Leiner is sliding towards bankruptcy. However, this does not mean the inevitable exploitation and dismantling of the company. However, if you still fail to draw up a restructuring plan or find an investor, the furniture chain is in danger of extinction.
The existing inventory will be sold, curator Volker Leitner said in a statement to the APA. About 1,350 employees are affected by the bankruptcy.
Bankrupt for the second time
In November, Kika/Leiner filed for bankruptcy for the second time. The company became bankrupt as early as 2023, shortly after René Benkos Signa sold the Kika/Leiner properties to Graz Supernova and the operational furniture business to trading manager Hermann Wieser. As a result, 23 of the 40 branches were closed and 1,500 employees were laid off.
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.
