Farhadian Farhadian
13.11.2024

Kika/Leiner Files for Insolvency Again

Austrian media reports indicate that the furniture retailer Kika/Leiner has filed for insolvency once more. The company had already been declared insolvent in 2023 and underwent a restructuring process: 23 out of 40 stores were closed, and the workforce was initially reduced by 1,600 employees, with a further 500 jobs cut this year, leaving 1,400 staff members. Despite these measures, Kika/Leiner reportedly continued to post losses. The reasons cited for this renewed insolvency include the company’s prior restructuring process, the insolvency of its previous owner, Signa, the ongoing recession, and rising costs since the takeover by its current owner, Hermann Wieser.

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