Canadian-owned pet food retailer provides customers with discounts of up
to 75 per cent on all store merchandise as company restructures
RICHMOND, BC, March 17, 2014 /CNW/ - Petcetera, Canada's premier pet
specialty superstore, announced today that it is commencing an
immediate nationwide inventory sale to generate cash while it files a
Notice of Intention to Make a Proposal to obtain creditor protection
under the Bankruptcy and Insolvency Act. Starting on Tuesday, March 18
the company will institute immediate price reductions on everything in
the store with savings of up to 75 per cent on their full range of pet
Petcetera is a 100 per cent Canadian owned and operated. In 2009
Petcetera down sized from 49 stores to 18 stores. The company currently
employs over 300 employees in its British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario and Nova Scotia locations.
"Since the opening of the first Petcetera store in 1997, 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. "Since the
restructuring of the company in 2009 we have made every effort possible
to profitably maintain our position in the markets we serve.
Unfortunately, due to the extremely difficult Canadian retail industry
and pet supplies segment this has not been possible, and we must now
take drastic measures in the short term to ensure that Petcetera is
viable in the future."
As part of its restructuring activities, Petcetera will review all areas
of its business including the number and locations of stores operated.
The extent of restructuring will directly depend 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 premier retail pet superstore."
Based in Richmond, B.C., Petcetera is a 100 per cent Canadian owned and
operated private company with over 300 employees and 18 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 and doggy daycare centres. 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:
Richard Kaga, Petcetera, phone: (604) 244-7387 ext. 274, email: email@example.com