Nearly 200 jobs have been saved following the appointment of Ben Barrett and John Carpenter of Dow Schofield Watts Business Recovery LLP (“DSW”) as joint administrators to specialist pet retailer Just For Pets Limited on 10 October 2017.
After an extensive marketing exercise, the joint administrators have completed a sale of the business of Just For Pets to PSR Trading Limited, a sister company of established pet supplies business Pedigree Wholesale Limited.
As a result of the sale, the employment of almost 200 members of staff at 18 retail outlets and head office has been preserved. Regrettably, 7 stores could not be saved and were closed by the joint administrators on appointment.
Joint Administrator John Carpenter commented “We are delighted to have secured the future of this long established retail business and wish the PSR Trading team every success for the future. The Just For Pets business is strongly focussed on customer service and animal welfare and its directors and management have worked alongside us to ensure continuity of the business and a positive outcome for the majority of its employees and other stakeholders.”
Kate Byrne the Operations Director of Just For Pets thanked the entire workforce of the company for continuing to work with dedication and integrity through very difficult circumstances, since speculation began in mid-September 2017. Kate added “The Just For Pets management team are also grateful to Ben, John and the DSW team for concluding the transaction under considerable pressure in terms of timescale and threats from various fronts. The sale to PSR represents the best outcome for employees, creditors and our very loyal and valued customer base.”
DSW were advised by Mark Lund and Laura Lucas of Turner Parkinson LLP.
The 18 stores that will continue to be operated by PSR Trading Ltd are confirmed as:
Bristol, Bromsgrove, Cambourne, Cambridge, Coventry, Droitwich, Evesham, Kidderminster, Long Eaton, Malvern, Maypole, Northfield, Nuneaton, Stourbridge, Swadlincote, Telford, Wolverhampton, Worcester.
Existing Just for Pet stores in the following locations will no longer operate as part of PSR Trading Ltd:
Bessie & Boo (Evesham), Burton upon Trent, Northampton, Nottingham, Reading, Wellington, Yardley