Praktiker Romania sold

The Praktiker stores in Romania have been sold. Search Chemicals S. R. L., a Romanian company, is acquiring 100 per cent of Praktiker Romania S. R. L., a subsidiary of the insolvent German Praktiker Group. As a strategic investor, Search Chemicals intends to take over all 27 locations as well as all 1 600 employees, and continue with the Praktiker brand. “The Praktiker brand enjoys a good reputation in many European countries,” comments Christopher Seagon, Praktiker’s insolvency administrator. The stores there are set up differently and frequently have a comprehensive range of products that goes beyond the core DIY assortment. Moreover, reports indicate that the management in Romania has succeeded in stabilising the business at home, in spite of the difficult environment resulting from the group’s bankruptcy in Germany. Praktiker Romania is the third foreign company, following on from the sale of assets to Bâtiself S. A. in Luxembourg and of Praktiker in Ukraine, which Seagon has sold to an investor. He is assuming that he will be able to sell more of Praktiker’s other foreign companies to investors in the weeks to come; according to his statement, negotiations to this end are currently being vigorously pursued.