Pet Valu killing US operations due to coronavirus

Pet Valu, a specialty retailer of pet food and supplies, is killing its U.S. operations after more than 25 years "due to the severe impact" from the coronavirus pandemic.

The company disclosed Wednesday that it expects to close all of its 358 stores and warehouses that are located within the Northeast and Midwest --- joining a swath of retailers that have fallen victim to the virus-related economic downturn.

EVEN IN PANDEMIC, AMERICAN SHOPPERS LIKE VISITING STORES

In addition to its stores, the company's corporate offices in Pennsylvania will also close by the end of the "wind-down process."

In its Wednesday announcement, Pet Valu, Inc.'s recently appointed chief restructuring officer Jamie Gould noted that stores were significantly impacted by the 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," Gould said.

However, the company noted that Pet Valu Canada, which is a separate company based in Markham, Ontario, is not impacted by the U.S. closures.

"Pet Valu Canada is a market-leading, highly profitable and growing business with a tremendous history and a very bright future," the company wrote in its Wednesday announcement, adding that it will continue to serve Canadian customers through its approximately 600 stores, franchise locations and e-commerce site.

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All Pet Valu stores in the U.S. are currently open, however, store closing sales across all locations are expected to begin in the coming days, the company said.

Effective immediately, customers will also no longer be able to shop online at the Pet Valu U.S. e-commerce site.

In the meantime, the company reaffirmed that it will continue to take necessary precautions to keep its stores safe until stores permanently close.

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