Praktiker

Praktiker
Company typeAktiengesellschaft
FWB: PRA
IndustryRetailing
Founded1978 (Luxembourg)
Defunct2014
FateBankruptcy that had no effect on external subsidies. All sold to other companies in 2013-2015
HeadquartersHamburg, Germany
Area served
Europe
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]
A Praktiker store in Bucharest, Romania
Interior view of a Praktiker store in Neu-Ulm, Germany
Praktiker activities

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 filed for insolvency at the Hamburg district court the following day for the eight domestic subsidiaries, including Extra Bau+Hobby.[5] The insolvency application for Praktiker AG was filed on July 12, 2013 at the Saarbrücken District Court and on 25 July 2013 for the Max Bahr subsidiary.[6] The Praktiker and Extra stores were closed on 30 November 2013, followed by the Max Bahr stores on February 25, 2014.

External subsidiares were not affected by the bankruptcy. All of them were sold to other companies between 2013 and 2015. The name Praktiker continues to be used by former subsidiaries in Bulgaria, Greece, Hungary and Turkey.

In 2016 two German businessmen acquired the naming rights and opened under praktiker.de a home improvement online store.[7]

  1. ^ a b c d Praktiker Group Annual Report 2010 (PDF). Retrieved 10 April 2011. {{cite book}}: |website= ignored (help)
  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). p. 2. Retrieved 10 July 2013. {{cite book}}: |website= ignored (help)
  4. ^ "METRO AG prepares for Praktiker's IPO". Metro AG. 27 October 2005.
  5. ^ DW.com (2013-07-11). "Praktiker DIY stores to file for insolvency". Deutsche Welle.
  6. ^ "Praktiker says Max Bahr units to file for insolvency". Reuters. 2013-07-25.
  7. ^ internetworld.de (2016-10-30). "Renaissance im Internet: Das zweite Leben von Praktiker, Hertie und Co".