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.
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