Austrian Baumax to pull out of Hungary
Austrian-owned do-it-yourself chain Baumax will withdraw from Hungary in the second quarter of this year, the company said yesterday. Baumax will close its 14 stores in Hungary by April. The properties will be taken over by Austrian furniture chain XXXLutz.
“Because of the difficult economic circumstances we must combine all of our energy in the other three countries we are present and take leave of Hungary,” said Chairman Michael Hurter. Baumax will focus it businesses in Austria, the Czech Republic and Slovakia, the company said.
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