Citing the impact from COVID-19, pet food and supplies retailer Pet Valu Inc. (Pet Valu U.S.) is closing down its operations and shuttering all 358 U.S. stores and warehouses, as well as its corporate office in Wayne, Pennsylvania. Pet Valu U.S. licenses its name and contracts for certain services from Pet Valu Canada, which is a separate company based in Markham, Ontario that is not impacted by this wind down.
All Pet Valu stores in the U.S. are currently open and ustomers in the U.S. can continue to use Pet Valu gift cards and loyalty rewards for purchases. However, U.S. customers will no longer be able to place orders on the Pet Valu U.S. e-commerce site.
“The Pet Valu U.S. team is proud to have met the needs of our devoted pet lover customers in the U.S. for more than 25 years. However, the company’s stores have been significantly impacted by the protracted COVID-19-related restrictions,” said Jamie Gould, Pet Valu Inc.’s recently appointed chief restructuring officer. “After a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down.”
The company has retained Malfitano Partners as its restructuring advisor, SB360 Capital Partners LLC to assist with store closing sales and A&G Realty Partners, LLC to assist on U.S. real estate-related matters. William Transier, chief executive officer of Transier Advisors, has been appointed as independent director to the board of directors of Pet Valu Inc.
