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
Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...
LEASEHOLD
Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.
Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....
LEASEHOLD
|
17
|
|
Jan
|
Sample book and shade card manufacturer acquired from administration | BUSINESS SALE
The business and assets of Yorkshire-based display products ...
|
16
|
|
Jan
|
Northgate and Redde shareholders approve merger | MERGER
The proposed merger of listed companies Northgate and Redde ...
|
15
|
|
Jan
|
SSE sells retail business to OVO Energy | DIVISION SALE
Power utility SSE has announced it has completed the sale of...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources