July 25, 2013 / 6:03 PM / 5 years ago

Praktiker says Max Bahr units to file for insolvency

FRANKFURT, July 25 (Reuters) - German home improvement retailer Praktiker said on Thursday insolvency proceedings would be filed for its Max Bahr units in Germany after a trade credit insurer stopped providing insurance coverage to suppliers.

A company statement said the application would be made “shortly” with a court in Hamburg on grounds of over-indebtedness and lack of liquidity.

It said the Praktiker group’s international operations remain unaffected by the insolvency proceedings. (Reporting by Marilyn Gerlach; editing by Patrick Graham)

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