Praktiker Group is looking to sell their Romanian propreties

Newsroom 11/02/2014 | 16:02

German do-it-yourself retail chain Praktiker is seeking buyers for its Romanian operations, which include 27 stores with sales of EUR142 million in 2012, according to Mediafax.

“An insolvency house in Romania was designated to sell Praktiker’s properties on the Romanian market, a company that owns a large store in our center. At the present we are conducting negotiations to restructure the lease contract to recover debts pertaining to rent and maintenance costs”, according to a report of European Convergence Development Company, one of Era Shopping Centre’s shareholders.

Contacted by Mediafax, the Praktiker representatives failed to comment.

The German group has been struggling in the last few years and at the end of 2011 announced it will close stores in Germany and leave the Albanian market. In 2013, Maseltov, the biggest Praktiker shareholder, announced it wants the retailer to leave Eastern Europe. Afterwards, Praktiker said it will not drop important branches, like the one in Romania. On the local market, Praktiker is competing with other DYI retailers, such as Ambient, bauMax, Dedeman, Hornbach, Mr. Bricolage, OBI, Kingfisher and Leroy Merlin.

Last year, Praktiker AG, the mother company for the german group, entered insolvency.

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Newsroom | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue