SB360 CAPITAL PARTNERS TO ASSIST PET VALU, INC. WITH WIND DOWN OF ALL U.S. BASED STORES
BOSTON, Massachusetts – November 5, 2020 – SB360 Capital Partners, a leading asset disposition specialist, has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its exclusive consultant to operate “Store Closing” or “Total Inventory Blowout” sales in 358 stores located across 14 states. The sales begin today in all stores.
Pennsylvania-based Pet Valu, Inc. offers thousands of products and top brands across all pet categories. Each Pet Valu neighborhood store carries essential and innovative pet supplies to fit any budget. During the Store Closing and Inventory Blowout events, all merchandise, including the wide assortment of pet food, treats, toys and accessories, is on sale. Stores have staff specially trained to help find the best nutrition and products for any pet.
“With more people welcoming pets into their family this year, the sales at Pet Valu stores in the U.S. will offer everyday pet necessities at significant savings,” said Ziggy Schaffer, Executive Vice President of SB360. “Pet parents shopping in Pet Valu stores will find great pet products, great prices, and the friendly neighborhood service that makes these stores a destination.”
“As a team of avid pet lovers, we urge customers to shop early and stock up while quantities last, as we know from experience that many of their favorite pet items will go quickly,” said Aaron Miller, Executive Vice President of SB360. “The combination of friendly service and quality products that Pet Valu stores in the U.S. are known for, will induce customers old and new to shop often and save on all their pet needs.”
During the store closing sale, pet parents will still be able to visit our self-serve dog wash or our groomers in select stores. As we continue to social distance for safety, appointments for these services are required and can be made by calling your local store.
Pet Point Plus Rewards members will continue to accrue points, bags, and washes through Saturday, November 21, 2020, and are encouraged to shop early while selection is best. Loyalty members with earned free bags should redeem their favorite products now while supplies last.
Shoppers with outstanding gift cards and Pet Point Plus awards are encouraged to redeem them by Sunday, December 13, 2020, as all such gift cards and rewards must be redeemed by the final day of the store closing sales.
Pet Valu continues to prioritize the safety of its associates and the communities they serve by closely monitoring all state and local guidelines. Safe shopping practices have been implemented across all stores and will continue to be modified and updated based on local conditions and directives.
Pet Valu, Inc. licenses its name and contracts for certain services from Pet Valu Canada Inc., which is a separate company based in Markham, Ontario that is not impacted by this wind down. Pet Valu Canada Inc. will continue to serve customers across Canada through its approximately 600 stores, franchise locations and e-commerce site at www.petvalu.com/ca/, offering its usual assortment of thousands of products and pet supplies.
About SB360 Capital Partners LLC – SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360 makes equity investments to infuse capital for growth opportunities, fund turnarounds, and provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. The firm’s asset disposition services range from providing guaranteed asset value recovery to acting as a liquidation consultant. Additionally, SB360 has entities engaged in real estate advisory, commercial real estate investment and the operation of the SBC Logistics Asset Recovery Center in Columbus. A lending affiliate Second Avenue Capital Partners, provides asset-based loans for middle-market companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.
About Pet Valu, Inc. – Pet Valu, Inc. is a U.S. specialty retailer of pet food and pet-related supplies with more than 350 stores across the Northeastern and Midwestern United States. Pet Valu, Inc. offers more than 7,000 products, including a broad assortment of premium, super premium and holistic private label brands scientifically developed by internal nutritionists.