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Penticton pet store closing its doors

Petcetera one of five in Canada set to close by end of May as company seeks creditor protection
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The Petcetera store in Penticton is expected to close by the end of May.

Petcetera announced it will be closing it’s pet specialty superstore in Penticton by the end of May.

One employee at the Penticton store, who preferred not to be identified, said the news of the store closure that came Monday morning was not a surprise.

“I guess we saw it coming,” she said. “It just is what it is. I have no idea if the store will be re-opening here or not, or what I will be doing next.”

She said the Penticton store has five employees who are either full or part-time workers who will be out of jobs.

The Canadian-owned pet food retailer will close five other stores in Edmonton, Calgary, Saskatoon, Winnipeg and Dartmouth by May 31 as part of its restructuring plan.

The company filed for creditor protection under the Bankruptcy and Insolvency Act on March 17, and initiated an immediate nationwide inventory sale to generate cash and previously announced the closure of stores in Abbotsford and Niagara Falls by April 30.

In 2009, Petcetera downsized from 50 stores to 18 stores, this included the Penticton store which was slated to lose eight part-time positions and three full-time employees.

At the time Petcetera had gone bankrupt and the receiver liquidated all assets.

The owner of the old company received some support of investors and purchased 20 of the best stores under a company called New Petcetera. Shortly after that announcement the Penticton Petcetera store rose from the ashes as a leaner, specialty-driven venture.

As part of its current restructuring activities, Petcetera has reviewed all areas of its business, including the number of locations and stores operated. Petcetera said the extent of restructuring will depend directly on the success of the inventory liquidation sale.

“To develop a viable restructuring plan a thorough review of all options available to us, including the closing or selling of stores was required.” said Dan Urbani, president and CEO of Petcetera.

“We have rationalized the prospects of every store and have concluded that our stores in Penticton, Edmonton, Saskatoon and Dartmouth are not viable and will be closed by the end of May.

“And the stores in Calgary and Winnipeg have been tentatively sold to another pet food retailer and will also close at that time.

“Closing stores is a very difficult decision, but unfortunately these were the only viable options for these stores”.

The six stores, including Penticton, will close and have an immediate liquidation of all inventory, fixtures and equipment. All inventory will be liquidated at 25 to 90 per cent discounts.

“We are facing a formidable challenge and will continue 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.”