The textile discounter Kik could part with a significant part of its branch network in Germany.
According to the Immobilien Zeitung, the closure of up to 400 of the approximately 2400 locations in Germany is imminent. Accordingly, branches would be affected at unprofitable locations, as the specialist medium reported on Friday.
A spokesman for the company based in Bönen told the newspaper that the existing branch network is regularly checked in order to remain solidly established. Adjustments are part of a continuous process that is supposed to ensure that it is “responsible and foresight”. At the same time, KIK emphasized that it continues to invest in existing markets and open new branches both in Germany and abroad. Fashionunited asked the textile discounter to comment.
Personnel changes in the management
The possible branch closures fall into a phase of profound changes in management. It was only last week that managing director Patrick Zahn surprisingly left the head after 18 years in the company, including nine years.
The farewell to the long -term CEO is part of a series of exits on the management of the discounter. Chief Operating Officer (COO) Dirk Ankenbrand had already declared his resignation for “personal reasons” in July. His previous areas of responsibility – including purchasing, logistics, supply chain, marketing/CRM and range management – had taken over to the point of view.
So far, the company has not named a successor to Zahn, but announced that it would provide information about the new occupation in due course.