Kik: potential closure of 400 stores in Germany?

Textile discounter Kik could be parting ways with a significant portion of its store network in Germany. According to Immobilien Zeitung, the closure of up to 400 of its approximately 2,400 locations in Germany is imminent. This primarily affects stores in unprofitable locations, as reported by the trade publication on Friday.

A spokesperson for the Bönen-based company told the newspaper that they regularly review their existing store network to maintain a solid economic footing. Adjustments are part of a continuous process to ensure "responsible and forward-looking" action. At the same time, Kik emphasised its continued investment in existing markets and the opening of new stores both domestically and internationally. FashionUnited has contacted the textile discounter for comment.

Personnel changes in senior management

The potential store closures coincide with a period of significant management changes. Just last week, it was announced that chief executive officer Patrick Zahn would be leaving the company after 18 years, nine of which he spent at the helm. This departure came as a surprise. The departure of the long-standing CEO is part of a series of departures from the discounter's senior management team. Chief operating officer (COO) Dirk Ankenbrand had already announced his resignation in July for "personal reasons". Zahn himself had temporarily taken over Ankenbrand’s previous responsibilities, including purchasing, logistics, supply chain, marketing/CRM, and assortment management.

The company has not yet named a successor for Zahn but announced that it would provide information on the new appointment in due course.

This article was translated to English using an AI tool.

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