Do-it-yourself retailer Praktiker does not plan to close down or sell such an important subsidiary as Praktiker Romania, the group said, after a recent statement from its largest shareholder Maseltov. A Maseltov representative recently suggested that the investment firm was looking at withdrawing from Eastern Europe.

Even through the local do-it-yourself retail has seen problems in recent years, Praktiker is confident the local market shows positive perspectives. The results are in line with the budget, which show the market has stabilized, and expects a slight market revival in the second part of the year, fueled by renovations and home repairs.

“We are optimistic and we have identified ways to make the Praktiker business efficient on the market were we operate, which is natural following the volatility of the segment in recent years. We do not have a plan to exit the local market. Within each company, shareholders always talk about proposals and strategies to optimize profit, but from intention to implementation, there's a very long road, as we're talking about a hundreds of millions of euros business,” said Michael Krahn, Country Manager Praktiker România.

editor@romania-insider.com