Insolvency drama at Discounter Kodi: 80 branches are before closing!

Insolvency drama at Discounter Kodi: 80 branches are before closing!

The Kodi discounter chain continues to keep in the bankruptcy proceedings, which was opened on March 1st. The reason for the economic difficulties lies in massive loss of sales and increased costs for energy, freight and advertising. In the past few months, Kodi has already closed about ten branches due to expired rental contracts.

Currently Kodi runs 238 branches in Germany and employs around 1,800 people. In 2024, the company achieved annual sales of around 130 million euros, which makes the current situation all the more surprising. In November, a protective shield procedure was requested to enable the company to carry out the restructuring on their own. The management remains in office.

takeover by investors

In the past few days, an agreement with a consortium around the partner Richard Nölle has been reached. This plans to take over 150 of the 230 branches and thus secure around 1,200 employees. According to Merkur , the purchase contract should be signed in the coming days.

Despite the agreement, 80 branches are expected to be closed. The locations concerned must expect a sale of the goods, which should take about two months. Around 480 employees in the closed branches and 40 employees in the headquarters have to expect dismissals.

outlook and other developments

The Kodi renovers are currently actively working to hand over the closed branches to other investors. The wages and salaries of the employees are secured until further notice. A believer meeting is planned for mid -May, in which further decisions about the future of the company are to be made.

The main focus is on the fastest possible development of a renovation plan, which is to be presented by spring 2025. During this, there are already reports of great interest in the Kodi branches, including from competitor Tedi, such as Ruhr24 reported. This could potentially bring complications and changes in the area of ​​the retail landscape.

Kodi was founded in 1981 and offers a range of around 2,700 articles in the areas of drugstore, household, cleaning, stationery and food. The current situation shows how quickly the situation of a company can change and presents the discounter chain with a big challenge in a constantly changing market situation.