Austria DIY Chain BauMax Avoided Insolvency

People ♦ Published: May 9, 2014; 09:25 ♦ (Vindobona)

Austrian leading DIY chain bauMax announced cost saving programs as part of its restructuring measures in Turkey, Romania, Bulgaria and Croatia. BauMax intends to focus on profitable business locations only.

The restructuring of bauMax is supposed to be completed by 2016. / Picture: © Baumax

Part of the program is the closing of unprofitable business locations and sales activities, which will have to be realized in the coming months. With a total of 103 business locations and sales volume of around one billion Euros the markets in Austria, Czech Republic and Slovakia account for 70 percent of the DIY chain’s business activities. The markets in Hungary, with a total of 15…