Arab Today, arab today german diy chain faces insolvency 18000 jobs at risk
Last Updated : GMT 22:49:43
Arab Today, arab today
Arab Today, arab today

German DIY chain faces insolvency 18,000 jobs at risk

Arab Today, arab today

Arab Today, arab today German DIY chain faces insolvency 18,000 jobs at risk

Frankfurt - AFP

German home improvement store chain Praktiker said Thursday it had failed to find sufficient financing to continue operating and will now have to consider filing for insolvency, potentially putting 18,000 jobs at risk. \"Negotiations on additional, initially promising, restructuring finance failed on the evening of July 10 because certain creditor groups did not provide approval for such financing,\" Praktiker said in a statement. The financing had become necessary after the heavily indebted group failed to complete its planned sale of a stake in Luxembourg-based Batiself. This meant that \"the expected proceeds from the sale could not be realised. These proceeds had been firmly included in the financing concept from 2012,\" the statement said. \"The management board will now carry out a review ... to determine the units for which insolvency applications will have to be filed and will then publish the results of this review as soon as possible.\" On the Frankfurt stock exchange, Praktiker shares nosedived by 69 percent to 0.11 euros.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german diy chain faces insolvency 18000 jobs at risk Arab Today, arab today german diy chain faces insolvency 18000 jobs at risk

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german diy chain faces insolvency 18000 jobs at risk Arab Today, arab today german diy chain faces insolvency 18000 jobs at risk

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday