The German Praktiker to be liquidated, while the stores in Hungary will continue to operate

It was unable to find investors to rescue the German Praktiker AG, thus the company will be liquidated – Die Welt’s online edition wrote on Wednesday.

The Die Welt by citing sources that are familiar with the position of the company wrote, that the trustee who was appointed to the rehabilitation of Praktiker AG do not see any realistic chance of success. No offers were received to buy the group, “the market has decided that there is no second chance for Praktiker” – one of the sources told the paper.

“The bankruptcy of Praktiker AG will not affect the operation of the Hungarian Praktiker stores. Within the Praktiker corporation, the foreign subsidiaries are belonging to the operational scope of the Baumarkt Praktiker International GmbH, which is a separate company and still not affected by the bankruptcy proceedings” – the Praktiker Építési és Barkácspiacok Magyarország Kft. told MTI. (MTI)