Reuters: Bankruptcy News: Praktiker says Max Bahr units to file for insolvency

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Praktiker says Max Bahr units to file for insolvency Jul 25th 2013, 18:02 FRANKFURT, July 25 | Thu Jul 25, 2013 2:02pm EDT 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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