Praktiker

type

Aktiengesellschaft

foundation

1978 (Luxembourg)

defunct

2014

hq location

Hamburg, Germany

area served

Germany, Luxembourg, Albania, Bulgaria, Greece, Hungary, Poland, Romania, Turkey, Ukraine

key people

Udo Gröner (Insolvency administrator Praktiker AG) Jens-Sören Schröder (Insolvency administrator Max Bahr) Christopher Seagon (Insolvency administrator Praktiker and Extra stores)

industry

Retailing

fate

Bankruptcy with no effect on external subsidiaries: all sold to other companies in 2013–2015

products

Home improvement and garden centre retail

revenue

€3.448 billion (2010) ‡R1R‡

operating income

€35.3 million (2010) ‡R1R‡

net income

(€554 million) (2011) ‡R2R‡

assets

€2.031 billion (end 2010) ‡R1R‡

equity

€839.9 million (end 2010) ‡R1R‡

num employees

19,523 (FTE, average 2011) ‡R3R‡

Praktiker AG was a German hardware store chain which operated in Europe. It was based in Hamburg and opened its first store in 1978 in Luxembourg under the name bâtiself. 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 Holding in November 2005 and listed on the Frankfurt Stock Exchange.[4] Since 2006 until 2011 was listed on MDAX and since 2011 until 2013 on SDAX.

In contrast to most of its German competitors, the company grew up by buying up various small DIY chains and building material stores. In addition, there was expansion into the new federal states and other European countries in the 1990s. After Metro AG's withdrawal as shareholder in 2006, the company experienced an existential crisis and posted high losses for years. Despite intensive efforts and considerable financial injections, the attempts to restructure failed.

On July 10, 2013 Praktiker AG announced it would file for insolvency at the Hamburg district court the following day for the eight domestic subsidiaries, including Extra Bau+Hobby.[5]

Operations

Germany

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:

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 would have had 117 Praktiker and 196 Max Bahr outlets, compared to 236 Praktiker and 78 Max Bahr stores at the beginning of that process. Because of 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).

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

Europe

Former subsidiaries still using Praktiker name

The Bulgarian subsidiary, Praktiker EOOD, was sold to Videolux Holding AD.[8] The company, which operates electronics retailer Technopolis, opened two new stores and renovated all Praktiker locations by the end of 2017.

Praktiker Greece was sold on April 8, 2014 to Canadian investor Fairfax Financial.[9] On July 16, 2025, Romanian DIY retailer Dedeman announced the acquisition of all 17 Praktiker stores in Greece.[10]

The 19 Hungarian Praktiker stores were sold to Papag AG in January 2015,[11]

Former subsidiaries still using Praktiker name

The 19 Hungarian Praktiker stores were sold to Papag AG in January 2015,[11] then to Wallis Group in January 2016.[12]

Former subsidiaries

In Luxembourg, the three "bâtiself" stores in Foetz, Strassen and Ingeldorf were sold in October 2013.[15] These stores were rebranded and are no longer associated with the Praktiker brand.

In Ukraine, the first store opened on November 29, 2007, in Donetsk, followed by additional locations in Lviv, Mykolaiv and Kyiv. The stores were sold on February 11, 2014, to Ukrainian investor Kreston Guarantee Group.[16] The network was rebranded in 2017 as Leroy Merlin.[17]

Praktiker Romania S.R.L., which operated 27 stores in Romania, was sold to Search Chemicals, in February 2014.[18]

Operations

Germany

Europe

Former subsidiaries still using Praktiker name

Former subsidiaries still using Praktiker name

Former subsidiaries

External links

References

Former subsidiaries