Baumax to become XXXLutz furniture stores in Hungary

Retail

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.

ADVERTISEMENT

Consumer price levels below EU avg in 2020 Analysis

Consumer price levels below EU avg in 2020

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Breast cancer screening at Dr. Rose Private Hospital Interview

Breast cancer screening at Dr. Rose Private Hospital

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.