Petcetera Files Bankruptcy - It's Official

[jsmth321]

Originally Posted by whatcaneyedo

They will not be missed. So when is Petco going out of business???

Probably not anytime soon. Their owners (2 private equity groups) have pretty deep pockets and they spent 1.8 billion to aquire the company 3 years ago, so I dont see them going away anytime soon. They expect to open their 1,000th store in 2009.

Petsmart's not doing too bad either, in the first quarter '09 profits up, sales are up and revenue is up, they closed the 1st qtr with a 46.3 million US profit on revenue of 1.33 billion US which was up 9%.