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The sale of the former Austrian DIY market leader Baumax is now formally concluded. The so-called closing for the sell-off of stores in both the Czech Republic and Austria took place in the week before Christmas. As the company stressed, this action avoided the need for insolvency proceedings, resulting in around 80 per cent of the employees retaining their jobs and the majority of obligations being met.
In Austria, the real estate company Supernova bought 56 of the Baumax properties there. These have been operated since November by Obi (49 stores), Hagebau (six stores) and Hornbach (one store). The nine remaining stores were closed. Of the 3 800 people employed by Baumax in Austria, 3 000 were taken on directly by the new operators.
In the Czech Republic, Obi has acquired four of the 22 existing stores, while the remaining 18 stores were transferred to the Polish retailer Cesko.
In Austria, the real estate company Supernova bought 56 of the Baumax properties there. These have been operated since November by Obi (49 stores), Hagebau (six stores) and Hornbach (one store). The nine remaining stores were closed. Of the 3 800 people employed by Baumax in Austria, 3 000 were taken on directly by the new operators.
In the Czech Republic, Obi has acquired four of the 22 existing stores, while the remaining 18 stores were transferred to the Polish retailer Cesko.
