The insolvent discounter Kodi has agreed to take over 150 of the 230 branches with an investor.
The creditor: Interior committee has already approved the takeover by a consortium around Kodi shareholder Richard Nölle, the company said in Oberhausen. A purchase contract should be signed in the next few days. Around 1,200 people are employed in the 150 branches. Kodi did not provide any more information about the consortium.
What happens to the other branches is still open. “According to the current status, 80 branches have to be closed,” it said. The sale of existing goods should begin “promptly” for about two months. “Around 480 employees in the closure branches and another 40 employees at the headquarters must be given notice of termination promptly,” said the management.
Referner: There are interested parties for many of the other 80 branches
However, according to the message, the Kodi renovers are also working on transferring numerous of these branches together with employees to other investors. “There are various interested parties who want to take over many of these 80 branches and their employees. We will continue these talks,” said renovation manager Raul Taras. It is assumed that numerous branches can be transferred to other investors within the coming weeks.
The company did not say which locations could be affected. “The further negotiations with the potential investor: on the inside have to be waited for,” it said.
Insolvency proceedings open on March 1st
Kodi Discontläden GmbH applied for a protective shield procedure in November – due to impending insolvency and over -indebtedness. This was justified with the supply of purchase of customers and increased costs, including for energy, freight and advertising.
Almost 10 Kodi branches had already been concluded in the past few months after the rental contracts had expired. The company continued in the other shops.
On March 1, the bankruptcy proceedings were opened by the Duisburg District Court. According to previous information, the believer meeting is planned for May 14th in Duisburg.
Kodi was founded in 1981 and is based in Oberhausen. The retail company, which is particularly represented in North Rhine-Westphalia, sells articles from the areas of cleaning, cooking, decorating, having homework, textiles and food. The annual turnover was last 130 million euros.