Bitter end

KikaLeiner closes: 90% discount for bargain hunters

The sale began weeks ago, but the remaining stock is still waiting to be snapped up.(Bild: Martin A. Jöchl)

On Wednesday, the insolvent furniture chain Kika/Leiner closes for good. Consumers will be able to get their hands on the last remaining goods at a 90 percent discount and will also have to collect their orders. But this also means the end for the 1350 employees.

It is a sad day for the last 1,350 of the 3,000 former employees, but the last chance for bargain hunters: the insolvent furniture chain Kika/Leiner will only be open on Wednesday before the remaining 17 stores close for good.

After the sales of the past few weeks, the remaining goods are now 90 percent off - while stocks last. The liquidator is very satisfied with the sale, which started a few weeks ago with smaller discounts. The originally planned closing date of January 31 has therefore been brought forward, and it is no longer necessary to keep some locations open into February. Goods that are not sold on the last day will probably be sold off to remaining stockists.

Those with "gravel protection" were lucky
For consumers, this means that they will have to buy on Wednesday and pick up any goods they ordered last. The liquidator has already informed all customers by letter whether he can still fulfill their orders or whether the contract will lapse. Those who took advantage of the "gravel protection" offered by Kika/Leiner are lucky if they have made advance payments. Their money was booked separately. As the "Krone" already reported, they should be fully compensated. However, several thousand of those affected can only register their claim in the bankruptcy proceedings (costs 25 euros) and will probably lose most of the amount they have paid.

For Kika/Leiner itself, things will now continue as follows: the 17 remaining stores have been owned by the Graz-based real estate group Supernova since summer 2023. It took over the furniture stores from the then already struggling Signa, owned by billionaire bankrupt René Benko.

Bitter end for the traditional company
In the meantime, competitor XXXLutz bought eleven of the original 30 locations, three were taken over by real estate entrepreneur Klemens Hallmann and others went to other interested parties. Now Supernova boss Frank Albert wants to sell the remaining buildings or look for new long-term tenants. However, a subsequent use is difficult, for example due to existing dedications as retail space or the size of the buildings. A bitter end for the traditional company founded in 1910.