Mon, 18 Sep 2017 | ADMINISTRATION
Just for Pets, a Midlands-based pet retail chain of 25 stores, is set to go into administration.
Parent company, Wynnstay, revealed the business had shown a 'marked deterioration' in profits due to changes in buyer behaviour, greater cost pressures and increased competition.
At its half-year results in June, Wynnstay's pre-tax profits at the group fell from £4.08 million to just £130,000, despite group sales increasing by 6.3 per cent to £205.3 million in the six-month period.
In the first half of the year Just for Pets generated £7 million of revenues, which represented about three per cent of Wynnstay's total revenues for the period, and made an operating loss of £0.25 million.
The company's total adjusted operating profit for the same period was £4.24m.
Wynnstay Chief Executive Ken Greetham says: “This has been an extremely difficult decision to make.
Having thoroughly investigated and pursued other options, it has been concluded that this was the correct path to take, both for Just for Pets and Wynnstay.
We will be working closely with advisers to ensure that Just for Pets employees, customers, suppliers and Wynnstay shareholders are best served.”
Find a business for sale here
Subscribe to Business Sale Report here
This well-established company operates to NSI Gold standards, providing comprehensive security solutions including design, installation, and maintenance for systems such as intruder alarms, fire alarms, CCTV, and access control. With a strong supplie...
This well-established business offers a comprehensive range of residential services, from plumbing and heating to building maintenance, with a robust customer database and a reputation for excellence across major platforms. With trained heat pump ins...
This well-established independent garage, recognised as an RAC and AA-approved car servicing provider, presents a fantastic opportunity for large fleet operators looking to integrate a renowned maintenance and repair service with a diverse client bas...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.