Recently, a famous Austrian retail chain filed for bankruptcy. Leaving 1400 employees affected nationwide. XXXLutz has acquired 11 former locations of the retail chain, Kika/Leiner, all of which had been closed since mid-2023. The deal, confirmed by XXXLutz's Thomas Saliger and the Supernova Group, is viewed as a real estate investment rather than an operational expansion, as the properties were already vacant.
Photo: Dreamstime.
The Austrian competition authority has not yet reviewed the transaction. This purchase follows Kika/Leiner's closure of several locations and its insolvency filing.
About XXXLutz
With over 370 stores across 14 European countries and an annual turnover of €6 billion, XXXLutz is one of the largest furniture retailers worldwide. In Germany, more than 12,000 employees in 57 XXXLutz and 48 Mömax stores ensure that each customer experience is special. The company invests €11 million annually in training, offering employees ten training days each year.
Source: www.derstandard.at