Praktiker Eager to Exit Romania, Starts Angling for Buyers - Report

Praktiker Eager to Exit Romania, Starts Angling for Buyers - Report

German DIY retailer Praktiker is reportedly looking for buyers for its Romania unit in a move that will not affect its operations in other EE countries, including Bulgaria.

"A Romanian Insolvency house has been appointed to dispose of the Romanian Praktiker business, which has a big unit on the site. Negotiations are ongoing for a restructuring of their lease agreement and recovery of the outstanding rental and service charge debts," reads a report of European Convergence Development Company, one of the shareholders of Era Shopping Centre in Romania.

However, when contacted by Mediafax, Praktiker representatives didn't comment on the information.

The German group had some difficulties in recent years. In 2011, the group announced its plans to close down some of the stores in Germany, and a withdrawal from Albania.