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.