The Austrian chain of furniture stores Kika/Leiner declares bankruptcy

Kik/Leiner’s 50-year history is coming to an end.

For nearly 40 years, the Austrian chain of furniture stores Kika/Leiner has been successfully running a business. At that time, it became the second largest furniture retailer in Austria. It also systematically increased its recognition abroad by opening new stores in various countries of Central and Eastern Europe. However, nearly 10 years ago, the first financial problems appeared, the solution of which was to be the sale of the network. The new owner undertook restructuring activities consisting in limiting the number of stores. However, this did not bring the expected results. However, it led to another change of owner, who has just announced restructuring and initiation of bankruptcy proceedings. There are plans to further reduce the network’s branches and lay off several thousand employees.

Source: https://www.dlahandlu.pl/nonfood/gigant-meblowy-bankrutuje-po-50-latach-pelnych-sukcesow,121320.html