2023-06-11 11:43:00
The liabilities total around EUR 150 million. According to media reports, the deferrals should account for the majority. The GPA is sharply critical.
The rate for restructuring procedures is usually 20 percent if the restructuring plan is accepted. The public sector would therefore have to write off 80 percent. The same applies to other creditors such as banks or suppliers.
The Treasury Department declined to confirm the figures. However, the Finanzprokuratur has been involved. As the Republic’s attorney, she represents the interests of the taxpayers: “Together with the insolvency administrator, we will look closely at the events that led to the insolvency and at all significant asset transfers.” As reported, Kika/Leiner also received corona aid of almost five and a half million euros via COFAG.
“More than lopsided optics”
On Sunday, Barbara Teiber, chairwoman of the GPA trade union, described the fact that “Kika/Leiner is now being settled with taxpayers’ money, while real estate mogul Frank Albert is benefiting from a mega deal with his Supernova group” as “more than a lopsided view”.
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Business Kika/Leiner bankruptcy: shock, frustration and hope for new jobs
“Some people earn a ‘golden nose’ through turquoise/black machinations and the result is 1,900 layoffs and an insane financial burden for the good and honest taxpayer,” criticized FPÖ General Secretary and MP for the National Council, Christian Hafenecker, in one broadcast on Sunday. “This is a screaming mess and needs a judicial review.” The Freedom spoke of “probably the greatest teasing in recent years”.
From the point of view of the GPA, Benko bought Kika/Leiner, managed “poorly”, “benefited” from the state, sold the real estate and the business separately, “makes a profit and lets employees and taxpayers pay more,” said Chairwoman Barbara Teiber in a broadcast on Sunday . Supernova boss Frank “Albert buys the valuable real estate and has no problem with the ailing company that is being wound up at the expense of all of us.”
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Kika/Leiner wants to file for bankruptcy next week
Last week, the new owner of Leiner & Kika Möbelhandels GmbH, Hermann Wieser, made it clear that the chain was in very bad shape. He took over the company from René Benkos Signa with a loss of 150 million euros. He himself is said to have paid a symbolic euro.
23 locations will be closed
Renovation steps were announced step by step. 1,900 of 3,900 employees lose their jobs. 23 of 40 locations will be closed. Then the next piece of bad news, this time for the creditors: Leiner/Kika will file for bankruptcy next week, the aim is a restructuring process. The properties are sold separately. They mostly went to Frank Albert’s supernova group.
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40 desperate Leiner employees in Vöcklabruck work hard for bargain hunters
According to trade unionist Teiber, Albert “donated 40,000 euros to Kurz-ÖVP through his company BM 454 GRA GmbH and 20,000 euros through the Supernova Group in the 2017 election year”. “The taxpayer loses more than 100 million euros, while short donor Albert does a good job.”
The union and the Chamber of Labor (AK) want to advise the affected employees in all branches.
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