Praktiker name to be carried on

The Praktiker stores in Ukraine are expected to continue to use the Praktiker name following their sale. The Kreston Guarantee Group, an accountancy firm, has acquired the Ukrainian national company of the insolvent German group for an unnamed private Ukrainian investor. This information was supplied to the Russian media by Alexsei Metshinski, managing partner of the group. Further information comes from a report in Kommersant, a Russian business newspaper, to the effect that the new owner will concentrate especially on reducing operating costs at the start. The first revenue is to be used to settle debts owing to suppliers. In the future there is to be a review of the concept and range of products offered by each individual store in order to avoid any direct competition with Epicentr or Leroy Merlin.