Kika/Leiner: The end of a furniture era in St. Pölten!

Kika/Leiner: The end of a furniture era in St. Pölten!

St. Pölten, Österreich - A tragic chapter in the long history of the Kika/Leiner furniture chain is opened with the new bankruptcy. The company, which looks back proudly for 114 years of tradition, was confronted with a renovation procedure without self-administration at the St. Pölten Regional Court on Thursday morning, as oe24.at . Despite multiple ownership changes and various attempts to renovate, the company has not managed to find a suitable investor, and the 17 remaining branches that have already been announced must now be closed.

The financial burdens are enormous: non -secured liabilities amount to 113 million euros, in the worst case even to 139 million, which the company brings into acute difficulties. These massive sums affect the 1,350 employees who now have to worry about their jobs. The situation has already deteriorated continuously over the past few years without a sustainable solution being in sight. After the bankruptcy in June 2023, after Rene Benko sold his real estate to the Graz Supernova and the operational business was handed over to Hermann Wieser, the chain remained trapped in an existential crisis, like Noen.at explained.

clearing in the branch landscape

The consequences of bankruptcy have already taken the first measures to close branches. In 2023, 23 out of 40 branches were closed in the course of the first attempt to restructure. Now the final clear cut seems to be at the door. The creditor protection association KSV1870 confirms the dramatic situation and announces the closure of the last 17 locations, which could prove to be a further blow for the already battered employees and the loyal customers.

The development around Kika/Leiner is an urgent example of how quickly prosperity in the retail landscape can falter. The former furniture company, regarded for a wide range of products, has repeatedly struggled with financial difficulties over the years that could now lead to a hopeless end.