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Kodi discounter to close 43 stores and headquarters amid insolvency
The insolvent household goods discounter Kodi is significantly reducing its retail network. Following the opening of insolvency proceedings in self-administration by the district court in Halle an der Saale, the company will close 43 of its 144 locations and its headquarters in Oberhausen.
An international investor group, operating through the newly formed Kodi Retail GmbH, has acquired essential assets from Kodi Handels GmbH, including inventory and equipment for 100 stores. This transaction allows the Kodi brand to continue operating at these 100 locations. While the financial details of the acquisition remain confidential, the move is intended to provide a stable foundation for the retailer's continuation.
The restructuring results in the termination of approximately 265 employees out of a total workforce of nearly 1,200. Many closures will occur in North Rhine-Westphalia, specifically in cities where the company operated only a single branch, such as Aachen, Ahaus, and Emmerich. In larger cities like Düsseldorf and Cologne, the company will maintain a majority of its existing locations.
Entities
Dirk Andres · Fabian Grund · Halle an der Saale · Kodi · Kodi Handels GmbH · Kodi Retail GmbH · Oberhausen
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Kodi will close 43 of its 144 locations and its headquarters in Oberhausen. supertipp-online.de · www.allgaeuer-zeitung.de · www.radiobrocken.de · www.upday.com
- [● 4 SOURCES] The district court in Halle an der Saale has opened insolvency proceedings under self-administration for Kodi Handels GmbH. supertipp-online.de · www.allgaeuer-zeitung.de · www.radiobrocken.de · www.upday.com
- [○ 1 SOURCE] The insolvency was caused by weak consumer sentiment, digital competition, and rising energy, rent, and wage costs. www.upday.com
- [● 4 SOURCES] Kodi Retail GmbH, backed by an international investor group, will take over 100 locations and the Kodi brand. supertipp-online.de · www.allgaeuer-zeitung.de · www.radiobrocken.de · www.upday.com
- [● 4 SOURCES] The company has approximately 1,200 employees, with 265 facing termination. supertipp-online.de · www.allgaeuer-zeitung.de · www.radiobrocken.de · www.upday.com