Kika/Leiner was the last working day on January 29. In the meantime, the majority of the 1350 employees have ended and they receive long -term salaries due to longer notice periods.
About two -thirds of the KiKa/Leiner employees have been on board for more than five years, said Michael Piefer, the director of the GPA Niederösterreich Union. In Lower Austria and Vienna, former employees can benefit from a Labor based and continue to train. This foundation was recently decided.
The outstanding salaries were paid in less than two weeks, praised Inolvency manager Volker Leitner. The closed furniture stores are currently completely deleted and cleaned, so that they can be sent back to Supernova. The real estate developer is the owner of the property and prepares the sale or long -term rental. 17 furniture stores were closed in Austria.
Until 28 February, the Aurena auction platform will be sold by the furniture chain, company equipment, fleet and furniture from the company’s head office.
Threaten higher furniture prices?
The bankruptcy of KiKa/Leiner will lead to a higher market concentration in the furniture trade and could result in rapid price increases. KiKa/Leiner earned around 300 million euros in turnover last year. That is a market share of six percent. According to observers in the industry, XXXLUTZ covers 35 percent of the market, followed by IKEA by around 20 percent and the specialized retailer by twelve percent. The Lutz group also includes Möbelix and Mömax. This will probably continue to grow to 40 percent, said furniture Retailer Christian Wimmer
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.
