BauMax

Austria’s BauMax Sells Bulgaria Unit for Token EUR 1

Published by Novinite on Fri, 12/19/2014 - 17:19

bauMax Bulgaria, a unit of Austrian do-it-yourself chain bauMax, has been sold for EUR 1 to Bulgaria's Haedus, money.bg reported on Friday.

According to Sofia-based Pressa daily, the buyer will also assume bauMax Bulgaria's outstanding debt and will cover its 2013 loss of BGN 37 M (EUR 18.5 M), money.bg said.

BauMax to Withdraw from Turkey

Published by Novinite on Fri, 04/04/2014 - 15:09

Austrian home-improvement DIY chain BauMax has officially announced its withdrawal from Turkey.

BauMax owner Karl-Heinz Essl communicated the news on Austrian ORF television and repeated previous information that the company also mulls leaving other markets in Southeast Europe.

Austria's Baumax Might Withdraw from Bulgaria, Eastern Europe

Published by Novinite on Fri, 03/28/2014 - 16:01

Austrian "do-it-yourself" chain Baumax is mulling a pullback from Bulgaria and Eastern Europe, Austria's Die Presse newspaper reported.

Earlier, its founder Karl-Heinz Essl announced he was kicking off a sale of his artwork collection in a move aimed at raising funds to save his company.