“Kik to close 400 stores in Germany”

German textile discounter Kik may be looking to downsize its store network in Germany: 400 of the 2,400 branches on its home market are said to be in danger of closing.

Turbulent period

Kik is considering closing hundreds of branches in unprofitable locations, the German Immobilien Zeitung reports. The company itself neither confirms nor denies the reports, but stresses that the branch network is under constant review. “Adjustments are part of an ongoing process to act responsibly and forward-looking“, the company says. Kik does add that it will continue to invest, both in existing markets and in opening new stores at home and abroad.