German Globus retailer interested in Praktiker's insolvent Max Bahr

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The German retail chain of hypermarkets and DIY Globus is interested in the insolvent Max Bahr, a company of Praktiker AG, Frankfurter Allgemeine Zeitung and Handelsblatt reported. Back in July 2013, Praktiker AG filed for insolvency for parts of the group, after it failed to sell a division of the company. Praktiker was facing financial difficulties, indebtedness and the negotiations with the creditors on further financing had failed. 

Globus has submitted a bid for Max Bahr, but has not yet been concluded. Currently all the business data are in the process of analysis. 

The Globus family operates 46 hypermarkets and 77 DIY stores mainly in southwestern Germany, and is also active in Russia and the Czech Republic. In the fiscal year 2012/2013, the Globus Group had a turnover of almost EUR 7 billion. Besides Globus, there also other interested parties in the acquisition of the insolvent Max Bahr, such as the Dortmund DIY group Hellweg. Who will finalize the acquisition is still open.

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