Sunday, November 8, 2020

HQ in Wayne, PA Pet Valu to Shut Nearly 360 Retail Stores and Warehouses in US

 By Linda Moss CoStar News

In yet another casualty of the pandemic, pet-supply retailer Pet Valu plans to shutter all its nearly 360 U.S. stores and warehouses.

The chain said it is winding down its operations, its brick-and-mortar sites in the Northeast and Midwest, as well as closing its corporate headquarters in Wayne, Pennsylvania.

"The company's stores have been significantly impacted by the protracted COVID-19-related restrictions," Jamie Gould, Pet Valu's recently appointed chief restructuring officer, said in a statement. "After a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down."

Pet Valu joins a long and seemingly ever-growing list of brick-and-mortar retailers that have been put out of business amid the COVID-19 outbreak, including Lord & Taylor and Pier One Imports.

Pet Valu U.S., operating for more than 25 years, licenses its name and contracts for services from Pet Valu Canada, a separate company headquartered in Markham, Ontario. The Canadian business, a chain with about 600 stores, is not affected by the U.S. move.

Pet Valu is owned by Roark Capital Group, a private equity firm based in Atlanta. The retailer operates small-format stores that sell premium pet food and supplies.

All Pet Valu's U.S. stores currently remain open, but the retailer said it expects to start store-closing sales in the coming days.

www.omegare.com

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