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
Established in 1994, these three handsomely presented and fully-equipped unisex hair salons are located in a prominent trading location.
Established vehicle display is located in a Berkshire prominent main toad. The business boats an excellent reputation and customer base.
LEASEHOLD
Established 2019, this logistics company can be managed from anywhere. The business comes with reliable executives already in place.
19
|
Apr
|
Building services consultancy moves to employee ownership | MBO/MBI
A building services consultancy in the North East has moved ...
19
|
Apr
|
US firm acquires Somerset employee management provider | BUSINESS SALE
An employee management services firm based in Somerset has b...
18
|
Apr
|
Education specialist makes second LDC-backed acquisition | BUSINESS SALE
Hybrid, an education media and marketing services firm, has ...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.