Australia’s largest pet-store chain has gone bust. You wouldn’t hear me complaining:
‘Pets Paradise has been placed into receivership after the Bank of Melbourne seized control of the ailing chain of 62 pet stores controlled by Gary Diamond.
The Bank of Melbourne, which is owed $11 million, yesterday appointed Deloitte as receivers to Pets Paradise, part of Diamond’s Paradise Retail Holdings group.
Deloitte Restructuring Services partners Tim Norman, Sal Algeri and John Greig have been appointed as receivers and managers of a number of companies in the Pets Paradise and Billy Baxter’s restaurants group of companies, which includes Pet Goods Direct and Pets R Fun.
The group has a workforce of 170 staff across its operations and Norman said stores operated by franchisees are not in receivership.
A creditors’ meeting will occur shortly along with a sale of the businesses.’
Pets Paradise has been known to abuse and neglect dogs in their care. When all their stores close down I will have a smile on my face.
By the way, Gary Diamond also owns the pet-store chain ‘Pet Goods Direct’. If I was a service provided I wouldn’t be doing any business with them right now in case I never see my payment!