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“The Economic Policy Wrecks of the ÖVP and FPÖ”: Krainer on Kika/Leiner

“The Economic Policy Wrecks of the ÖVP and FPÖ”: Krainer on Kika/Leiner

SPÖ Member of Parliament Kai-Jan Krener strongly criticized the bankruptcy of Kika/Lehner. This cannot be a levy, especially since the taxpayer absorbs the losses.

Troubled furniture chain Kika/Lainer filed for bankruptcy Monday afternoon. It will also be costly for taxpayers. The company owes about 130 million euros to the tax office. Meanwhile, billionaire René Benko, the Signa Group, made €350 million in profits from the sale of the property.


The state should not take on debt


SPÖ Member of Parliament criticizes Kai-Jan Krener in an interview with PULS 24: “One earns 300 million euros, we pay 100 million and 3,000 people lose their jobs.” He demands that the state not bear these debts.

“This is the missing money. For example, for a warm lunch for the children,” Kreiner continues, “ It cannot be that private companies bear the profits and we always bear the losses“.


A wreckage of black and blue


The Social Democrat also finds the sharp words of the former turquoise-blue federal government: “What we see now are the ruins of the economic policies of the ÖVP and FPÖ.” In 2018, the government called for a takeover of Kika/Leiner by the Signa Group. The previous owner, the South African Steinhoff Group, was threatened with bankruptcy.


Kay-Jan Kreiner criticizes the government “boasted that it had saved 5,000 jobs. Now 3,000 have already lost their jobs, and 2,000 are still shaking”. In terms of personnel, the bankruptcy was the largest in Austria in the past ten years.

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