JOBS at Just for Pets stores, including the branch in Malvern, are in jeopardy after it was revealed the company is verging on administration.
The business, which is based in Hartlebury, operates 25 shops with most of them in the Midlands, particularly Worcestershire.
This latest development comes after a restructuring exercise which began earlier this year.
Discussions and negotiations with a number of interested parties have been held but so far there have been no acceptable offers.
The board intends to continue to work with the company’s advisors to seek a sale of the business and assets of the company in order to secure as many of the jobs as possible.
Just for Pets Director Paul Godwin said: “We have seen the trading environment for Just for Pets deteriorate materially over the last year, resulting in the business becoming loss-making.
“After careful and extensive consideration of all alternatives, including a sale of the business, we unfortunately had to make the very difficult decision to give Notice of Intention to Appoint Administrators for Just for Pets.
“It has been one of the most difficult decisions the board has had to make.
“This is a deeply disappointing outcome, but we believe making the decision now should limit possible potential job losses and maximise the opportunities available to all stakeholders in Just for Pets.
“We will work closely with all advisers involved in the process in order to preserve as much value as possible in the business, and we hope that the current uncertainty will be resolved promptly, and with minimal impact for all.
“The Just for Pets stores will remain operational and we would like to reassure everyone that every effort is bring made to achieve the best outcome for all stakeholders.”
There are 25 Just for Pets stores across the Midlands with other branches in the county including Bromsgrove, Stourbridge, Kidderminster, Worcester and Evesham.
Ken Greetham, chief executive of Wynnstay, Just for Pets’ parent company, said the decision to file the notice had been a difficult one.
“Having thoroughly investigated and pursued other options, it has been concluded that this was the correct path to take, both for Just for Pets and Wynnstay, given the difficult circumstances in which JfP has found itself in recent years,” he added.
