Maxeda is considering selling off its shopping chains. The company that owns Praxis, Brico, Plan-it and Formido wants to appoint JP Morgan and Citi to consider "all of its strategic options".
The goal of the research is to map out the possibilities each chain has in the future, which "may result in a sale", according to the company. The strategic review should be finalized by the end of the year.
Maxeda was unable to give additional information: "This review serves to expand our horizon. Currently, Maxeda owns 4 DIY chains. It may be possible that every store is sold, but we have not made any solid plans and the company would like to keep all options on the table", Claire Verhagen, spokesperson for Maxeda, told RetailDetail.
It is not an entirely unexpected move, as the DIY market has been suffering these past few years since consumers have been quite careful with their expenses. Online players like bol.com have also threatened the chains, as these online players have started cutting into their turnover in what is already a difficult market.