200 jobs saved as Nottingham firm rescues Just for Pets
Some 200 jobs have been saved after a Nottingham company bought stricken Worcestershire-based pet retailer Just for Pets out of administration.
Pedigree Wholesale, a pet food and product supplier based in Gamston, has formed PSR Trading to complete the deal, which means that nearly 200 staff from the Just for Pets head office and 18 stores are secured.
Stores which are staying open are in Bristol, Bromsgrove, Cambourne, Cambridge, Coventry, Droitwich, Evesham, Kidderminster, Long Eaton, Malvern, Maypole, Northfield, Nuneaton, Stourbridge, Swadlincote, Telford, Wolverhampton and Worcester.
However, seven stores in Evesham, Burton upon Trent, Northampton, Nottingham, Reading, Wellington and Yardley will close.
Worcestershire-based Just for Pets was placed in administration by its parent, agricultural supplies group, Wynnstay.
Day-to-day management of Just for Pets will continue under the direction of its existing management team.
Steve Brown, managing director of Pedigree Wholesale, said: “On hearing that the future of Just for Pets was under threat Pedigree Wholesale felt we could play a role in using our pet business expertise to secure a new future for the business. We know Just for Pets has a great reputation for offering outstanding customer service and has developed a loyal customer base so we are pleased that Pedigree Wholesale can now create a future for the business and the brand.”
“The addition of Just for Pets to the Pedigree Wholesale family reinforces our commitment to investing and driving innovation within the pet sector which we believe will support the interests of all who have a stake in the continued success of our industry. We remain committed to developing our core wholesale business and expect to announce further significant investment which will directly support all of our wholesale customers.”
For the six months to April 30, 2017, Hartlebury-based Just for Pets generated £7m of revenues, approximately 3% of Wynnstay’s total revenues for the period, and an operating loss of £250,000. The company’s total adjusted operating profit for the same period was £4.24m.