Interest in Max Bahr and Praktiker

There are several potential buyers for the Max Bahr sales channel of Germany’s insolvent Praktiker Group. This is revealed in a statement from the official administrator, which says that various strategic investors as well as private equity firms have manifested an interest in acquiring the Max Bahr DIY stores, as well as many of the Praktiker stores. They are expecting to receive concrete bids at the beginning of September. Prior to this came the announcement that 51 of the Praktiker outlets, which had been sustaining heavy losses for quite some time already, must be sold out by the end of October. The sale of their stock at appropriate discounts has already been set in train. In the meantime the system for supplying the Praktiker and Max Bahr stores has been stabilised. The two official administrators have come to an agreement with key participants including suppliers, merchandise underwriters and banks on the financing of the stock.