Atlanta Georgia-based Roark Capital Group, a private equity firm that operates Pet Valu, a named licensed in the U.S. from Markham, Canada-based Pet Valu, a retailer of pet food, accessories, and small pets, has announced that the name-licensed U.S. company is closing out its operations in the United States and will be closing their U.S. offices, warehouse distribution centers, and 358 U.S. locations.
The shutdown of corporate operations will impact 157 employees in two locationd, its Wayne, Pennsylvania corporate office (64 employees) and its warehouse in Levittown, Pennsylvania (93 employees).
The number of franchised store personnel to be laid off in unknown because each site employees less than 50 employees -- less than the state-mandated reporting threshold. Layoffs are scheduled to occur in January 2021. Pet Valu's Canadian operations, a separate company, will not be impacted by the layoffs.
According to a company statement from Jamie Gould, the company's Chief Restructuring Officer, "The company’s stores have been significantly impacted by the protracted COVID-19-related restrictions. After a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down.”
However, the real reason appears to be the company's ability to compete with large pet stores such as Petco and PetSmart, the big-box retailers like Walmart and Target, and the e-commerce sites which offer lower prices and convenience -- especially in times of Covid-related lock-downs.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
