DIY retailer broken up

The acquisition of Max Bahr, the bankrupt subsidiary of Praktiker, by German competitors (Hellweg, Globus) has come to nothing. Globus has announced the collapse of the negotiations on the purchase of some 60 Max Bahr locations. Now Max Bahr will be sold off piecemeal instead, as is happening to its parent company. Yesterday a large number was snapped up by Bauhaus, which announced the purchase of 22 of the larger Max Bahr stores. Other competitors such as Obi and Hagebau are showing an interest in acquiring stores, from both the Praktiker and the Max Bahr collections. The owner of the Max Bahr properties is a subsidiary of the Royal Bank of Scotland, which also filed for bankruptcy in February this year and which has been strongly criticised because of the level of rental charges it feels appropriate for its real estate.