Top dog struck

XXXLutz bought closed Kika/Leiner locations

The signs for Kika/Leiner are very bad - the competition had already struck before the recent bankruptcy.(Bild: Krone KREATIV/HELMUT FOHRINGER / APA / picturedesk.com)

Following the insolvency of Kika/Leiner, it is now known that the furniture giant XXXLutz has bought eleven closed Kika/Leiner locations. These were closed in the summer of 2023. What does the retail giant from Wels plan to do with the properties? It is not yet revealing its plans.

The Supernova Group led by Frank Albert recently sold eleven former Kika/Leiner locations to SAR Leasing GmbH of the XXXLutz Group, as confirmed by XXXLutz spokesperson Thomas Saliger. Upon request, Supernova confirmed the sale, which includes the former furniture stores in Steyr, Vöcklabruck, Amstetten, Horn, Mistelbach, St. Johann im Pongau and Unterwart.

As part of the first insolvency proceedings, Kika/Leiner closed a total of 23 out of 40 locations at the end of July 2023. With 17 stores remaining open, the company tried everything to restructure, but obviously did not succeed. Kika/Leiner is expected to file for insolvency again on Thursday.

No active locations affected
At the same time, it became known that a XXXLutz company had secured old Kika/Leiner properties. "This has nothing to do with the active Kika/Leiner locations, but rather with those that were closed a year and a half ago and acquired as part of a real estate package," says Thomas Saliger. For XXXLutz, this is basically a real estate investment, he emphasizes.

Competition authorities prick up their ears
The transaction is also arousing the interest of competition authorities. "We have not yet received any notification," said the Federal Competition Authority (BWB). Should Kika/Leiner finally disappear from the scene, XXXLutz is likely to further expand its role as the top dog in the Austrian furniture trade.

Future plans for closed Kika/Leiner locations open
Will XXXLutz breathe new life into the old Kika/Leiner stores that have been closed for over a year and reactivate them? "Basically, we have enough stores in Austria," says Saliger.