Kika/Leiner: Restructuring plan for insolvent furniture retailer accepted

Creditors of insolvent Austrian furniture retailer Kika/Leiner have approved a restructuring plan, preventing the company from going into liquidation. The restructuring is already underway: the number of stores has been reduced from 40 to 17, the workforce has been more than halved from around 3,900 to just under 1,800 and the product range has been streamlined.

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