Rabbit Advocacy Animal Matters

Petcetera to file for creditor protection under Bankruptcy and Insolvency Act

March 17, 2014 The Canadian Press

RICHMOND, B.C. - Pet supply store Petcetera said Monday it plans to file for creditor protection in hopes of restructuring its operations.

The retailer, which has 18 stores across the country, also said it will cut the price on everything in its stores to help generate cash while it files its notice of intention to make a proposal under the Bankruptcy and Insolvency Act.

Petcetera has more than 300 employees in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia. The privately held company said it will review all areas of its business, including the number and locations of stores, as part of its restructuring.

The extent of restructuring will directly depend on the success of the inventory liquidation sale, Petcetera said in a statement.

In 2009, Petcetera closed 31 of its stores as part of a restructuring. "Since the restructuring of the company in 2009 we have made every effort possible to profitably maintain our position in the markets we serve," Petcetera president and CEO Dan Urbani said.

"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."

Petcetera sells supplies for pet owners as well as offers services including pet hospitals, grooming, obedience school and doggy daycare centres.

NB: For further information contact: Richard Kaga, Petcetera, phone: (604) 244-7387 ext. 274, or email: richardk@petcetera.ca

Comment: Rabbit Advocacy was instrumental in having rabbit sales banned in pet stores, writing and presenting to local councils. Among our many actions, we documented conditions at Petcetera, took pictures, created petitions, and boycotted retail outlets. We also urged the BC SPCA to break its partnership with the retailer.

In early spring of 2007, Petcetera announced it would discontinue selling rabbits in all its BC stores, but only did so in the lower mainland, or in municipalities that passed new legislation banning the sales of these animals.

In 2009, Petcetera filed for bankruptcy protection, closing 31 of its stores across Canada, and has now filed again. It has 18 stores across Canada.

Update: March 31, 2014  Petcetera will close two of its 18 remaining stores by April 30th as it continues to restructure. The stores in Abbotsford and Niagara Falls are not viable said Dan Urbani, president and CEO.  

Read more about Petcetera on our pet store page: Pet Shops/Rabbits/Leg.