Sale of Praktiker Ukraine

The Ukrainian regional company of Praktiker, the bankrupt German DIY group, has been sold to the Kreston Guarantee Group, a Ukrainian investor. The acquisition is still subject to the usual official checks. The investor will be taking over all four locations, as well as the 380 employees. “As we are well aware, Ukraine is currently facing major economic and social challenges. That makes me all the happier to know that we have managed to find an investor willing to carry on all four outlets as DIY stores and to take over the entire workforce,” says Christopher Seagon, Praktiker’s insolvency administrator. He believes that it will be possible to sell more of Praktiker’s regional companies to investors; apparently negotiations to this effect are being “vigorously” pursued at present.