The DIY retail chain bauMax started the sale of its stores, according to the Austrian News magazine. The company announced that bids should be submitted before December 18. In November, the German press was full of reports that the DIY chain Obi is considering a take-over of bauMax, which is reportedly off-loading its stores in Austria, the Czech Republic and Slovakia. Trend.sk writes however, that these stores produce €745m, which is 70 percent of the retailer’s revenues. The company’s financing banks, Raiffeisen, Erste Group and Bank Austria, will have to approve the sale.
