Kodi Announces Store Closures and Layoffs in Restructuring Effort
The German discount retailer will close 80 stores and cut 520 jobs as a consortium prepares to acquire 150 locations, with efforts ongoing to find investors for remaining outlets.
- Kodi plans to shut down 80 of its 230 stores, resulting in 520 job losses, including 40 positions at its Oberhausen headquarters.
- A consortium led by shareholder Richard Nölle has agreed to acquire 150 stores and retain approximately 1,200 employees, with the deal expected to be finalized soon.
- Efforts are underway to find investors for the 80 stores slated for closure, with restructuring experts optimistic about preserving some jobs.
- The company filed for protective shield insolvency in November 2024, citing declining consumer spending, rising costs, and increased competition as key challenges.
- The insolvency process officially began on March 1, 2025, with a creditors' meeting scheduled for May 14, 2025, to review the restructuring plan.
Westdeutsche Allgemeine Zeitung 
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