Petcetera files for creditor protection, initiates immediate nationwide inventory sale

    Canadian-owned pet food retailer provides customers with discounts of up
    to 70 per cent on all store merchandise as company restructures

    RICHMOND, BC, March 20 /CNW/ - Petcetera, Canada's premier retail pet
superstore, announced today that it is commencing a 60-day nationwide
inventory sale to generate cash flow while it files a Notice of Intention to
Make a Proposal to obtain creditor protection under the Bankruptcy and
Insolvency Act. Starting on Saturday, March 21 the company will institute
immediate price reductions of up to 70 per cent on their full range of pet
merchandise.
    Petcetera is a 100 per cent Canadian owned and operated limited
partnership. Since opening its first pet superstore in 1997, the Petcetera
chain has grown significantly, employing 1,600 people at 49 locations from
British Columbia to Newfoundland and Labrador.
    "For more than a decade, we've provided Canadian families and their pets
with quality pet products and services and furthered the animal adoption cause
through our P.A.W.S. program," said Dan Urbani, president and CEO of
Petcetera. "In light of the recession's impact on the Canadian retail
industry, we have to take drastic measures in the short term to ensure that
Petcetera continues to be viable long after the downturn is over."
    As part of its restructuring activities, Petcetera will review all areas
of its business including store numbers and locations. The extent of
restructuring will depend directly on the success of the inventory liquidation
sale.
    "We are facing a formidable challenge and are prepared to make the tough
decisions needed to ensure that Petcetera can continue to serve Canadians and
their pets for years to come," said Urbani. "Throughout this process, we will
provide the same expert advice and wide range of pet products and services
that our valued customers have come to expect from Canada's leading retail pet
superstore."

    about Petcetera

    Based in Richmond, B.C., Petcetera is a 100 per cent Canadian owned and
operated private company with 1,600 employees and 49 stores across Canada.
Founded in 1997, Petcetera is Canada's leading pet superstore that offers pet
owners more than 10,000 pet products as well as a full range of pet care
services including pet hospitals (Vetcetera), pet grooming, obedience school,
doggy daycare centres, pet photography and pet licensing. Petcetera is
committed to giving back to the community through P.A.W.S (Petcetera Animal
Welfare Society), which promotes responsible pet ownership and works to reduce
cat and dog euthanasia rates.

For further information: Julie Bélanger, Petcetera, phone: (604)
244-7387 ext. 244, or 1-888-388-1811, email: julieb@petcetera.ca