Pet-supply retailer Pet Valu Inc., buckling under the pressure of restrictions related to the coronavirus pandemic, plans to close its nearly 360 stores and warehouses in the U.S., WSJ Pro Bankruptcy reported. The specialty retailer of premium pet food and supplies said Wednesday it expects to wind down all of its 358 stores and warehouses in the Northeastern and Midwestern U.S., as well as its corporate office in Wayne, Pa. “After a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down,” said Jamie Gould, Pet Valu’s recently appointed chief restructuring officer. Pet Valu, owned by consumer-focused private-equity firm Roark Capital Group, said that its stores have been hurt by the pandemic, which has prompted a raft of retailers to file for bankruptcy and close stores. The U.S. company licenses its name and contracts for certain services from Pet Valu Canada Inc., a separate entity that isn’t part of the wind-down. The Ontario-based company will continue to operate its roughly 600 stores, franchise locations and e-commerce site in Canada. The U.S. chain, which has been operating for more than 25 years, said it expects to begin store-closing sales in the coming days. In the meantime, all Pet Valu stores in the U.S. remain open. The company said it has stopped taking online orders on its Pet Valu U.S. e-commerce site.
