Kika sold its network of stores operating in Hungary and three other countries in Central and Eastern Europe

The Austrian Signa Group, the owner of the Kika home furnishings chain, sold its shops in Hungary, the Czech Republic, Slovakia and Romania to the Austrian company XXXLutz – the Austrian newspaper Die Presse wrote on Friday.

The new owner owns the Mömax network in Hungary.

According to Signa’s announcement, the relevant contract was signed on 26 April. Kika now wants to focus entirely on its Austrian retail chain. Under the contract, 22 properties and 1,500 employees change hands. (MTI)