Petcetera is clearing out inventory after filing for creditor protection this week.
(JENNIFER STAHN / iNFOnews.ca)
March 20, 2014 - 4:34 PM
THOMPSON-OKANAGAN — This week Petcetera began a nationwide inventory sale after filing for creditor protection under the Bankruptcy and Insolvency Act.
The B.C. based company downsized from 49 stores to 18 in 2009 and still employs more than 300 people across six provinces.
“Since the restructuring of the company in 2009 we have made every effort possible to profitably maintain our position in the markets we serve,” president and CEO Dan Urbani said in a release this week. “Unfortunately... 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.”
It is unknown at this time if and when more locations will be shuttered but the company has said it plans to look at restructuring and the number and locations of stores will be part of the review. Currently Kamloops and Penticton are the only locations in the B.C. Interior.
The first Petcetera store opened in 1997 and today the company offers pet products, adoptions, doggy daycare, grooming, obedience classes and veterinary services.
To contact a reporter for this story, email jstahn@infotelnews.ca or call 250-819-3723.
News from © iNFOnews, 2014