Praktiker sells subsidiaries in Romania and Bulgaria

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IHB
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After filing for insolvency back in July 2013, the German DIY retailer, Praktiker AG has entered into a process of selling parts of the Group. Therefore, the insolvency administrator, Christopher Seagon, has recently managed to sell Praktiker's subsidiaries in Romania and Bulgaria. 

On the 26th of February, Mr. Seagon has agreed to sell 100% shares of Praktiker Romania S.R.L. to the Romanian company S.C. Search Chemicals. Praktiker owned in Romania 27 sites and hired approximtely 1600 employees. 

On the 28th of February, Christopher Segon also agreed to sell 100% of Praktiker Bulgaria EOOD and Praktiker Bulgaria Real Estate EOOD to the Bulgarian Videolux Holding. In Bulgaria, Praktiker had 9 DIY stores in Bulgaria and 570 employees. 

The amount of both transactions was not disclosed. Mr. Seagon expects to sell more of Praktiker's foreign subsidiaries in the upcoming weeks. 

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