150 branches of the German discount will continue Kodi, as the company announced on Tuesday. This means that around 1200 employees can keep their jobs. The bankruptcy procedures in self -administration were open on 1 March.
Kodi Discontlände GmbH applied for a protective shield procedure in November due to the imminent insolvency and about -indentness. According to their own statements, the reasons for the bankruptcy were considerably increased costs, such as energy and freight, and fewer things.
Now an investor consortium around the previous Kodi shareholder Richard Nölle takes over the assets of the company in Oberhausen (Bavaria) and retrospective from 1 April 2025. 150 departments must continue to run under the Kodi brand. “After clarification of the last details, the members of the Committee Creditor also approved the acquisition,” said it.
520 employees canceled
However, 80 other KODI locations are not taken over by the new investors. 520 employees have already been terminated, including 40 in the head office. The sale is now being carried out at the end of June. According to the company, however, there are still discussions underway with possible other investors who want to take over some of these branches and then want to continue under a different brand.
The retail company, which was founded in 1981, mainly sells household goods and drugstore. It is mainly represented in North Rhine-Westfalen.
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.
