Household goods discounter files for bankruptcy again

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For Kodi, history repeats itself: Barely a year and a half after the last rescue attempt, the non-food discounter is once again facing financial failure.

Oberhausen – The company has filed an application with the Halle an der Saale district court to open insolvency proceedings under self-administration – dozens of branches and hundreds of jobs are now in jeopardy. The court granted the request and ordered temporary self-administration. For Kodi’s management, this means that they remain fully authorized to act and issue instructions and continue to direct the company’s fortunes themselves, albeit under the supervision of a provisional administrator.

According to the company, several factors are responsible for the renewed difficulties: a still depressed consumer mood, growing competitive pressure from online retailers, high energy prices, rising non-wage labor costs and additionally high rents. Overall, these burdens would have driven the discounter into the red again.

Kodi managing director speaks plainly: “However, the initial situation is not easy”

Looking back at the previous restructuring process, Kodi managing director Fabian Grund makes it clear how deep the cut is: “We were able to successfully complete our previous restructuring process and stabilize business operations. The measures implemented at the time created an important basis for the continuation of our company. In the past few months, however, the economic conditions have tightened with a dynamism and intensity that were not foreseeable at the time and are once again putting a considerable strain on our situation.”

He justifies going to the insolvency court again as a conscious step: “The procedure that has now been initiated is an expression of a responsible approach to the situation. Our goal is to ensure the continued existence of our company. However, the initial situation is not easy – we have to say that quite openly.”

Around a third of Kodi branches are about to close

Specifically, this means for the branch network: Kodi estimates that it will have to give up around 50 of the current 150 locations. This is also accompanied by job cuts. It is still unclear which branches will be closed – relevant organizational decisions are currently being examined and should be made in the coming weeks. Until then, operations will initially continue unchanged at all locations, as the company announced.

Grund has an open, almost apologetic message for employees: “This is a harsh assessment – especially for our employees, who have already supported a restructuring process with great commitment and are committed to KODi every day. We are extremely sorry that we have to give them this perspective.”

The workforce was informed of the news on Tuesday. The employees are initially financially protected: for July, August and September 2026, wages and salaries will be paid through the insolvency benefit. Kodi currently employs a total of 1,200 people, including 72 in the service center and 36 in logistics. The focus of the nationwide branch network is in North Rhine-Westphalia.

Already the second bankruptcy within 18 months

Kodi had already slipped into protective shield proceedings in November 2024 due to payment difficulties. A consortium of investors took over the company and took over 150 of the original 230 branches. It was only in February of this year that Kodi made positive headlines with its takeover of the East German competitor Mäc Geiz.

The ongoing process is being supported by the insolvency and restructuring law firm AndresPartner, which is also overseeing the – legally independent – ​​restructuring of the sister company Mäc Geiz. According to its own statements, the law firm has extensive experience in the restructuring of commercial companies. The restructuring expert Prof. Dr. was appointed as the provisional administrator. Lucas F. Flöther from the law firm Flöther & Wissing appointed; He monitors the process independently in the interests of the creditors.

Kodi Handels GmbH, based in Oberhausen, says it has been supplying customers with everyday products since 1981. The range of household and drugstore goods includes more than 2,700 items from areas such as cleaning, cooking, decorating, DIY, textiles and food. (Sources: Food Newspaper, Food Practice, INDat, dpa) (han)