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Baumax to become XXXLutz furniture stores in Hungary

Austrian-owned XXXLutz will start transforming the Hungarian stores of do-it-yourself chain Baumax into furniture shops after a deadline for taking over the properties passes on April 15, the managing director of XXXLutz’s Hungarian unit told news agency MTI on Monday. 

MMXH managing director András Simonyi said a decision on how many former Baumax staff to take over would be taken once the restructuring starts. Baumax employs 788 people in Hungary, a company official told MTI earlier. XXXLutz agreed last week to acquire 12 stores and an additional six properties from Baumax.