Praktiker was a German hardware store chain which operated in Europe. It was based in Hamburg and opened its first store in 1978. Initially owned by ASKO, the chain became a division of Metro AG after the merger of ASKO with Metro Cash & Carry in 1995. It was spun off under the name Praktiker AG as a fully independent corporation on 21 June 2007, listing on the Frankfurt Stock Exchange and becoming an MDAX constituent. Later it was listed on the SDAX. Praktiker AG filed for insolvency on 11 July 2013 for eight subsidiaries including Extra Bau+Hobby, on 12 July 2013 for the umbrella brand Praktiker AG and on 25 July 2013 for the Max Bahr subsidiary. In Germany, the Praktiker and Extra stores were closed on 30 November 2013, followed by the Max Bahr stores on February 25, 2014. In 2013 and 2014 most of the foreign subsidiaries were sold to several companies. The name Praktiker continues to be used by former subsidiaries in Bulgaria, Greece, Hungary and Turkey.

Praktiker
Aktiengesellschaft
Traded asFWBPRA
ISINDE000A0F6MD5 Edit this on Wikidata
IndustryRetailing
Founded1978 (Luxembourg)
Defunct2014
Headquarters,
Key people
Udo Gröner (Insolvency administrator Praktiker AG)
Jens-Sören Schröder (Insolvency administrator Max Bahr)
Christopher Seagon (Insolvency administrator Praktiker and Extra stores)
ProductsHome improvement and garden centre retail
Revenue€3.448 billion (2010)[1]
€35.3 million (2010)[1]
Decrease (€554 million) (2011)[2]
Total assets€2.031 billion (end 2010)[1]
Total equity€839.9 million (end 2010)[1]
Number of employees
19,523 (FTE, average 2011)[3]
ParentMetro AG Edit this on Wikidata
Websitewww.praktiker.hu
A Praktiker store in Bucharest, Romania
Interior view of a Praktiker store in Neu-Ulm, Germany
Praktiker activities

OperationsEdit

GermanyEdit

In 1979 Praktiker opened its first four stores in Germany. Over the years Praktiker took over many smaller companies and changed most of their stores into Praktiker stores:

  • 1979: 9 "BayWa" stores
  • 1985: 12 "Wickes" stores
  • 1991: "Esbella", "Continent"
  • 1993: "BLV", "MHB", "Massa", "Huma", "Extra", "Real-Kauf"
  • 1996: 27 "Bauspar" stores
  • 1997: 60 "Wirichs" stores
  • 1998: 25 "Extra" franchise stores
  • 2000: 27 "Top-Bau" stores
  • 2006: 76 "Max Bahr" stores

The Praktiker management began in late 2012 with the transformation of 119 Praktiker stores to Max Bahr stores. At the end of this process in December 2013 Germany should have 117 Praktiker and 196 Max Bahr outlets, at the beginning of that process there were 236 Praktiker and 78 Max Bahr stores. Because of the insolvency applications in July 2013 all those plans are stopped, with 54 former Praktiker stores already transferred to Max Bahr outlets. The companies Hellweg and Globus failed to reach an agreement with the Royal Bank of Scotland to buy 59 Max Bahr stores in November 2013. All Praktiker, Extra Bau+Hobby and Max Bahr stores were closed by the end of November 2013 (Praktiker, Extra, 40 Max Bahr stores) or at the end of February 2014 (remaining Max Bahr stores).

EuropeEdit

Former subsidiaries still using Praktiker nameEdit

The Bulgarian subsidiary, Praktiker EOOD, was sold to Videolux Holding AD.[4] The comapny which operates electronics retailer Technopolis, opened two new stores and reconstructed all Praktiker stores in the end of 2017.

Praktiker Greece was sold on April 8, 2014 to Canadian investor Fairfax Financial Holding Ltd.[5]

The 19 Hungarian Praktiker stores were sold to Papag AG in January 2015,[6] and again to Wallis Group in January 2016.[7]

In Turkey, Praktiker initially closed the 9 stores after it failed to find a buyer.[8] Later stores were bought by Uygulama Yapı Marketleri Inc. and were reopened, followed by the opening of new stores.[9]

Former subsidiariesEdit

The three Luxembourgian "bâtiself" stores in Foetz, Strassen and Ingeldorf were sold in October 2013. Now the bâtiself stores were rebranded and are not anymore related to the Praktiker brand.

In Ukraine, the first store was opened on November 29, 2007 in Donetsk, three more opened in Lwiw, Mykolaiv and Kiev. The stores were sold on February 11, 2014 to Ukrainian investor Kreston Guarantee Group.[10] The network was rebranded in 2017 as Leroy Merlin.[11]

Praktiker Romania S.R.L. which operated 27 stores in Romania, was sold to Search Chemicals in February 2014,.[12] In 2017, 20 stores were bought by Kingfisher plc, and rebranded as Brico Dépôt.[13]

The 24 Praktiker stores in Poland were sold to Papag AG in March 2014.[10] However the group was declared bankrupted in 2017, and all the stores were closed,[14] part of the former Praktiker stores are now part of the Castorama network detained by Kingfisher.

In Albania, the first store was opened on October 30, 2009 in Tirana. It was closed on November 30, 2011 due to the restructuring.

In Moldova, the company had planned to open a store in 2009 in Chişinău, but it was canceled later.

ReferencesEdit

  1. ^ a b c d Praktiker Group Annual Report 2010 (PDF). Praktiker.com. Retrieved 10 April 2011.
  2. ^ "Praktiker rutscht tiefer in die roten Zahlen – Aktie bricht ein". Focus Money Online. 2012-03-28. Retrieved 2012-03-28.
  3. ^ Praktiker Group Annual Report 2012 (PDF). Praktiker.com. p. 2. Retrieved 10 July 2013.
  4. ^ "Neun Praktiker-Märkte in Bulgarien verkauft". DIE WELT. 28 February 2014. Retrieved 2 May 2015.
  5. ^ "Archived copy". Archived from the original on 2014-04-09. Retrieved 2014-04-09.CS1 maint: archived copy as title (link) Praktiker: Fairfax Financial Holding erwirbt Praktiker-Gesellschaft in Griechenland (German)]
  6. ^ "Eladták a Praktikert". Origo.hu. Retrieved 2 May 2015.
  7. ^ "Wallis Group buys Hungarian Praktiker stores". Bbj.hu.
  8. ^ "German DIY chain Praktiker withdraws from Turkey". Reuters.com. 11 February 2013.
  9. ^ "Turkish do-it-yourself chain applies for bankruptcy protection". Ahvalnews.com. 27 February 2019.
  10. ^ a b [1][dead link]
  11. ^ "Мережа Praktiker закрилася в Україні". Асоціація рітейлерів України. 20 April 2017. Retrieved 23 June 2019.
  12. ^ "Weitere Auslandsfilialen der Praktiker-Baumärkte verkauft". finanzen.net. Retrieved 2 May 2015.
  13. ^ Kingfisher buys Praktiker in Romania (in Romanian)
  14. ^ "Praktiker Poland has vanished from the market". Diyinternational.com. Retrieved 23 June 2019.

External linksEdit