Stationary retail: Kodi closes 43 branches, 100 locations remain
The discount store Kodi is advertising low prices for household goods to attract customers. However, business is going poorly and the company needs to be restructured. Now many branches are being closed.
Kodi, a household goods discounter, is closing 43 of its 144 locations and its headquarters in Oberhausen, resulting in job losses for 265 of its nearly 1200 employees. Kodi Retail GmbH, backed by an international investor group, will take over 100 locations, retaining the Kodi brand. The insolvent Kodi Handels GmbH has had its assets, including inventory, taken over, although the amount paid by investors has not been disclosed.
The closures include locations in cities such as Aachen, Ahaus, and Düsseldorf, with some cities like Krefeld retaining all their Kodi stores.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
