Terg, the owner of the Polish electronics network Media Expert, confirmed it submitted an offer to take over the troubled Avans chain. Terg says it’s considering different options, including acquiring the entire chain or parts of it. According to media reports, Terg submitted its bid on May 30. Media Expert’s Polish network includes 269 stores around the country.
Media Expert is the latest investor to join the bidding process for the troubled electronics chain over the last few weeks. Other potential buyers include the Polish company AB and a US investor whose name was not disclosed. “Some of the investors are interested in taking over the entire portfolio, but some of the offers are just for the most profitable store [in the chain] or the warehouse properties,” says Janusz Skiba, the chain’s executor. He admits, however, that while he’s in a hurry to finalize the bankruptcy proceedings, selling the entire portfolio may prove difficult. Domex, Avan’s owner, had more than PLN 380m in liabilities when it collapsed.
