XXXLutz acquires closed kika/linen locations as real estate investment

XXXLutz acquires closed kika/linen locations as real estate investment

In a remarkable development, the XXXLutz group took over eleven locations of the KIKA/Leiner furniture chain, which were closed at the end of July 2023 due to financial difficulties. These are former branches that were closed as part of Kika/Leiner's first insolvency proceedings. This decision was made in the course of the closure of 23 out of 40 locations.

Frank Albert, the head of the Supernova Group, confirmed that the sales negotiations with Sar Leasing GmbH, a company within the XXXLutz group, were successfully completed. Thomas Saliger, a manager of XXXLutz, told the "courier" that the takeover should be seen more as a real estate investment. The purchased locations are therefore no longer active in the shop, but were closed about a year and a half ago and are now taken over as part of a real estate package.

Details for takeover and their meaning

The transaction signals that XXXLutz wants to expand its presence in Austria. "It has nothing to do with the active locations of Kika/Leiner," continued Saliger. This indicates that XXXLutz does not want to intervene in the business operations of Kika/Leiner, but rather invest in real estate that are no longer in the operational business.

The interest that this deal arouses with the competition authorities could indicate that there will be regulatory exams. At the moment, the Federal Competition Authority (BWB) has not yet received any registration for the deal, which suggests that the competitive conditions could be examined in more detail. The competition in the furniture market is intense and such takeovers can have a noticeable impact on the market.

The Kika/Leiner Group is still in difficulties because a new bankruptcy application is expected tomorrow. This development could further influence the landscape of the Austrian furniture market, especially if you consider that the closure of branches also affects employees and that many jobs are in danger.

Overall, the purchase of the eleven locations through XXXLutz shows that the company thinks strategically, especially in a market that is characterized by constant growth and changes. It remains to be seen how this takeover will have a long -term effect. For more information, See the current reporting at www.diepresse.com .