Praktiker AG / Key word(s): Insolvency
25.07.2013 19:41
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Publication of an ad-hoc announcement pursuant to Section 15 WpHG (German
Securities Trading Act)
Insolvency
- Positive continuation forecast for operational Max Bahr entities denied
- Insolvency proceedings for operational Max Bahr entities to be applied
shortly
Praktiker AG
Am Tannenwald 2
66459 Kirkel
ISIN: DE000A0F6MD5
WKN: A0F6MD
Hamburg, 25 July 2013: The directors of the operational entities within the
Praktiker Group that operate the Max Bahr stores in Germany (Max Bahr
Entities) have informed the Management Board of Praktiker AG that a
positive continuation forecast for the Max Bahr Entities was denied, after
a trade credit insurer did not continue to provide the agreed insurance
coverage to the suppliers of the Max Bahr Entities. As a consequence, the
steady supply of goods to Max Bahr stores is no longer guaranteed.
Therefore, the directors of the Max Bahr Entities will shortly make an
application to the competent Local Court Hamburg for insolvency proceedings
to be opened for reasons of overindebtedness and a lack of liquidity.
It is currently intended to carry out an insolvency plan procedure.
The following entities within the Praktiker Group are affected by the
insolvency proceedings: Baumarkt Max Bahr Geschäftsführungs GmbH, Baumarkt
Max Bahr GmbH & Co. KG, Baumarkt Max Bahr Warenhandels GmbH, Baumarkt MB
Vertriebs GmbH.
The Praktiker Group's international operations remain unaffected by these
insolvency proceedings.
25.07.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Praktiker AG
Am Tannenwald 2
66459 Kirkel
Germany
Phone: +49 (0) 40 6000 11 3700
Fax: +49 (40) 600011-6126
E-mail: investorrelations@praktiker.de
Internet: www.praktiker.com
ISIN: DE000A0F6MD5
WKN: A0F6MD
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Praktiker AG: Insolvency
| Source: EQS Group AG