Kika/Leiner: Insolvency and sale of 11 locations to XXXLutz

Kika/Leiner: Insolvency and sale of 11 locations to XXXLutz

In a surprising turn, the Kika/Leiner furniture store has to fight again with financial difficulties. After the first bankruptcy one and a half years ago, at which 23 locations were closed, the company is now on the edge of the bankruptcy. According to reports, a new application for bankruptcy is to be submitted on Thursday.

However, the situation has also taken a significant step in the industry. According to reports, the XXXLutz group has reported eleven of the previously closed locations, including branches in Amstetten, Horn, Mistelbach, Steyr, St. Johann, Vöcklabruck and Unterwart. This information was confirmed by land register research.

Current developments

According to Thomas Saliger, a manager of XXXLutz, the takeover is not related to the active locations of Kika/Leiner. "It is about closed locations that were purchased in a real estate package a year and a half ago," he told the "Kurier". This indicates that XXXLutz has strategic plans in order to possibly put the locations taken into operation or to use it elsewhere.

The new bankruptcy of Kika/Leiner raises questions about how it will go on for the company and its employees. The uncertainty about the future of this brand remains, while the industry closely observes developments. This step of XXXLutz could be a sign of consolidation in furniture trade, with larger companies buying smaller competitors to strengthen their market position.

More details on the changes in the furniture trade and the background of the takeover can be found in a report, as www.puls24.at shows . If you look at the current trends in retail, this incident could only be the beginning of further restructuring and takeover in the industry