Pet Valu did not announce a date for when all of its stores will close. вЂњAfter a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down.вЂќ However, the CompanyвЂ™s stores have been significantly impacted by the protracted COVID-19-related restrictions,вЂќ Gould said. team is proud to have met the needs of our devoted pet lover customers in the U.S. Jamie Gould, the chief restructuring officer of Pet Valu Inc., said in a statement that COVID-19 have a вЂњsevere impactвЂќ on the company. Rockville location at 14933 Shady Grove - five employees affected.Potomac location at 7723-7725 Tuckerman Lane - seven employees affected.Olney location at 18115 Town Center Drive - eight employees affected.Gaithersburg location at 9165 Rothbury Drive - six employees affected.Damascus location at 9809 Main Street - 11 employees affected.Clarksburg location at 22750 New Cut Road - six employees affected.stores permanently.ДЄccording to Maryland Department of Labor, there are six Pet Valu locationsВ in Montgomery County, and 43 employees will be laid off as a result: Roark focuses on investments in consumer and business service companies and purchased Pet Valu in 2009.Pet Valu announced on its website that itвЂ™s closing all of its U.S. Pet Valu was owned by Roark Capital, an AtlantaвЂђbased private equity firm with $19 billion in assets under management. Pet Valu Canada operates roughly 600 stores, franchise locations, and an e-commerce site. licensed its name from Pet Valu Canada, which is a separate company based in Markham, Ontario, and which was not planning any closures. While pet purchases are somewhat stable, вЂњwe would expect the companyвЂ™s sales of hard goods and specialty merchandise, which are currently strong sales categories for PetSmart, to moderate in a weaker consumer spending environment,вЂќ S&P added. unemployment remains elevated, which could lead to a pullback in discretionary spending. Government stimulus expired at the end of July with no clear plan for more, and U.S. вЂњThe path of the pandemic remains uncertain and could lead to changes in consumer discretionary spending that negatively affect PetSmart,вЂќ S&P wrote. In 2021, uncertainty surrounding the pandemic could lead to a drop in consumer spending on pets, according to one report by S&P Global on a rival company, PetSmart, which also owns the website. Pet Valu, on the other hand, was more about bringing your pet in the store for an experience. Kumar at Fox Business School said consumer spending on pet supplies and food actually increased among 34% of those surveyed by LendingTree and stayed the same among 17% of pet owner consumers. After a thorough review of all available alternatives, we made the difficult but necessary decision to commence this orderly wind down.вЂќ вЂњHowever, the companyвЂ™s stores have been significantly impacted by the protracted COVID-19-related restrictions. for more than 25 years,вЂќ Jamie Gould, newly appointed chief restructuring officer, said in a statement. The privately held retailer of pet food and supplies is closing all 358 stores and warehouses, as well as its corporate office in Wayne. All purchases must be made in person at a store or by pickup, as deliveries also have ended. 6, including the 45 locations in the Philadelphia region, from Warrington to Somerdale, N.J.Д«ut Pet ValuвЂ™s online purchases have shut down. Pet Valu also had more physical locations, which hurt the chain because of the growing importance of online sales, he said. вЂњPet Valu wasnвЂ™t as dynamic as its competitorsвЂќ such as PetSmart and Petco. вЂњThe pandemic accelerated the demise of many retailers,вЂќ said Subodha Kumar, professor of marketing at TempleвЂ™s Fox School of Business. 13, but the cards are expected to remain valid until the stores fully close. locations because of the pandemic.Д¬ustomers with Pet Valu gift cards are encouraged to use those by Dec. Going-out-of-business sales at local Pet Valu stores began Thursday after the retail chain specializing in pet food, supplies, and services said it would close all U.S.

Pet balu