German Praktiker Sells Business in Ukraine

The German network of construction hypermarkets Praktiker, which has announced about its bankruptcy last year, sold its daughter enterprise in Ukraine.

Praktiker insolvency administrator Christopher Seagon has officially informed about this.

“The Praktiker daughter enterprise in Ukraine was sold to the Ukrainian investor Kreston Guarantee Group,” Seagon noted.

In Ukraine, where Praktiker has opened for the first time in 2007, the company has four hypermarkets – in Kyiv, Mykolaiv, Lviv and Makiyivka. About 380 persons are working for the companies.

As Seagon assured, all four Praktiker hypermarkets in Ukraine continue working with preservation of the personnel.

Praktiker AG has almost 430 hypermarkets in nine countries, out of these in Germany – over 300. 18,000 persons are working for the company. The bankruptcy process has started in October last year. Praktiker managed to sell its daughter companies abroad only in Luxemburg and Ukraine.

Source: Ukrinform

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