Owner of Praktiker to launch a new store at Targu-Jiu
Turkish businessman Omer Susl, the owner of Search Chemicals company established in 2003 in Romania resumes the expansion of Praktiker chain acquired this year with a new unit to be launched at Targu-Jiu. 2014-09-02 12:47:05
Subsequently, the DiY network will reach 28 stores opened so far in Romania and by yearend, the company will open a new unit at Giurgiu. The latest opening has been performed in 2010 at Botosani.
Search Chemicals is part of a larger business portfolio of Susli in Romania, running majority of operations in Constanta area. Susli is shareholder within companies as Romtextil and Tempo Invest. Search Chemicals runs selling operations in construction and furniture filed. In Romania, Praktiker has , with the new announcement, 28 retail units countrywide operating rented spaces and posted sales worth EUR 142 million in 2012.
In April 2012, the company officials stated that Do-it-yourself retailer Praktiker does not plan to close down or sell such an important subsidiary as Praktiker Romania, after a recent statement from its largest shareholder Maseltov. A Maseltov representative suggested that the investment firm was looking at withdrawing from Eastern Europe. In 2013, the German Group entered insolvency after several years of financial difficulties.
The local competition for Praktiker is represented by companies such as Leroy Merlin, Dedeman, Ambient, bauMax, Hornbach, Mr. Bricolage, OBI and Kingfisher.
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