The future of bankrupt shoe retailer Reno is becoming clearer. The Kienast Group, which owns the retail concepts ABC Schuh-Center, K+K Schuh-Center, Schuhpark, Shoe4You and Claudio Shoes as well as the online shop Kilagoo, confirmed the selective takeover of Reno branches on Friday.
These are nine Reno stores that will continue to operate under their previous Reno. In addition, the staff will also be taken over, but it is unclear how many employees are involved. The insolvent shoe retailer recently spoke of a perspective for around 120 of the 1100 employees, but was referring to the future prospects of a total of 23 branches.
“The Reno branch portfolio fits perfectly with our company’s market strategy, and with the acquisition we can further strengthen our presence,” says Kienast, company owner and managing director Peter-Phillip Kienast. “All options for a future of the Reno brand are currently on the table and are being carefully considered.”
Kienast Group has experience with takeovers
The Hanover-based group of companies already has takeover experience. In 2016, Kienast took over Shoe4You GmbH & Co. KG and continued the locations, as is now the case with Reno, under the existing brand name. Another acquisition followed in 2019. At that time, Kienast became an investor in the struggling shoe chain store Schuhpark Fascies GmbH and took over almost 70 branches. “Reno is also already firmly positioned on the market and has a high level of acceptance among customers,” says Kienast. “We therefore see very good opportunities for a positive development of the concept.”
Outside of the Reno insolvency proceedings, the Kienast Group was also able to gain 21 additional locations, so that the company’s branch portfolio has grown by a total of 30 locations. In addition to taking over the new Reno branches, the company is also planning new openings under existing Kienast concepts. The group from Wedemark currently operates around 450 branches and is, according to its own statements, one of the three leading shoe retail companies in Germany.