Kika/Leiner furniture chain insolvent again

Austrian furniture chain Kika/Leiner has again applied for bankruptcy after an attempt at restructuring failed, a spokeswoman announced from company headquarters in St Polten on Tuesday. Up to its sale in 2023, the company belonged to the Signa Group of investor René Benko, which is also insolvent. Restrained consumer demand and an increase in costs over the past two years had turned saving the company into an insurmountable task, a company statement said. It added that the administrator would take further decisions on the future of the company and its staff of 1,400. Until ...