Over and out: max bahr is finally broken up

Over and out: max bahr is finally broken up

The takeover by the saarland-based retail chain globus, which had already been largely negotiated, does not materialize. "We have held intensive talks with globus," a spokesman for the insolvency administrator of property owner moor park, which owns 66 of the last 73 max bahr stores, said in hamburg on wednesday. "Unfortunately, however, it has not come to an agreement with the company."

The decision to dissolve the company and sell off the stores, which had already been taken the week before last, will now stand. There were promising negotiations with renowned companies in the german DIY sector, it continued. They wanted to take over a larger number of the 66 stores, the stores were then reflagged to the brand of the new owners, the name max bahr disappeared from the market.

Talks are to be concluded this week. It remains to be seen whether and how many of the 3,600 remaining jobs could be retained by a new employer.

Globus regrets the unsuccessful takeover. "Max bahr was a good fit for us," said a company spokesman in saarbrucken. The location and structure of the stores and their regional distribution had been a good complement to the company’s own network. However, it was not possible to reach an agreement on the properties.

The trade union verdi sharply criticized the failure of the negotiations. "That now in the poker game about real estate rents the 3600 employees of the DIY chain are to be left behind is an unheard of scandal," said verdi board member stefanie nutzenberger in berlin. "After months of wrangling, thousands of people could not now be let go into an uncertain future."

Behind the insolvent landlord moor park stands the royal bank of scotland (RBS) as a gross creditor. "We very much regret that it did not come to an agreement, although the negotiations were far advanced," said a spokeswoman for the bank in frankfurt on wednesday. "For us completely surprisingly, original demands were taken up, which were known to be unacceptable."

The final end for max bahr is the last act in the insolvency of the praktiker group, which became insolvent in july. The company, which once had more than 300 stores and around 15,000 employees, also dragged its subsidiary max bahr into insolvency. All efforts by the insolvency administrators to completely destroy larger parts of the group were unsuccessful. Gradually, all the markets went out of business.

The employees of praktiker have changed to a large part in a transfer company. Verdi demanded on wednesday that a transfer company also be set up for max bahr employees to mitigate the consequences of unemployment.

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