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Kodi Finalizes Takeover Deal, Secures 1,200 Jobs

A consortium led by Richard Nölle acquires 150 stores, while 80 locations face closure unless new investors are found.

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Overview

  • The takeover of 150 Kodi stores by a consortium led by shareholder Richard Nölle is now finalized, retroactive to April 1, 2025.
  • 1,200 employees will retain their jobs, while 480 store workers and 40 headquarters staff face layoffs due to planned closures.
  • 80 stores are slated for closure, but discussions with potential investors to save some locations are ongoing.
  • Clearance sales have begun in the stores set to close, with liquidation expected to conclude by early June 2025.
  • Kodi cites rising costs, subdued consumer spending, and fierce competition as key factors behind its financial struggles.