Praktiker AG also insolvent

The parent company of the German Praktiker stores, Praktiker AG, has now also filed an insolvency petition. Meanwhile insolvency administrators have been appointed for both Praktiker AG and eight subsidiary companies so far. Business is continuing as usual in the Praktiker stores, though many suppliers are refusing to deliver any more goods. The Max Bahr channel of distribution is not affected by the insolvency. The objective now is to sell the entire group. Also under discussion is the sale of individual Praktiker stores to competitors who have already expressed an interest, as well as the integration of viable Praktiker branches into the Max Bahr chain.