PetSmart

43
7 months agoOpen For Voting

I’ve worked for the company for 6 years, and it has been on the decline since it’s purchase by a private holdings group in 2014. Starting as a small warehouse style store in the late 80s, it is now the leading pet specialty retailer with over 2000 locations. A few years ago, the private owners staged the largest leveraged buyout of an e-commerce retailer in history- Chewy.com. Since then, they are expected to default on their bonds in 2021 and 2022. The company is bleeding money, gutting payroll, and for the first time ever, our daily/weekly/quarterly projected numbers are much less than the previous years. The brick and mortar locations can’t make money, since we have to price match Chewy.com. This isn’t even getting into all the bad press regarding breed exclusions from day camp events, and bad press from tragedies in the grooming salons. The company was once so impressive, but has lately been just a train wreck- and potentially the next Toys R Us style bankruptcy.