German DIY retailer Praktiker seeking buyers for its operations in Romania

German do-it-yourself retailer Praktiker is seeking buyers for the operations in Romania, where it runs 27 stores. "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. In 2012, the Austrian investment firm Maseltov, Praktiker’s largest shareholder, announced it would like the DIY retailer to pull out of Eastern Europe. Later that year, Praktiker said it does not plan to close down or sell important subsidiaries such as Praktiker Romania. Praktiker AG, the mother company of the German group, filed for insolvency in July 2013. Irina Popescu, irina.popescu@romania-insider.com