Just for Pets is poised to enter administration, placing 70 jobs in jeopardy across 25 stores nationwide.
The retailer, based in the Midlands, filed a notice to appoint administrators over the weekend after it failed to find a buyer.
The “deeply disappointing” outcome is attributed to falling sales which have plunged the retailer into losses.
“We have seen the trading environment for Just for Pets deteriorate materially over the last year, resulting in the business becoming loss-making,” director Paul Godwin said.
“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 being made to achieve the best outcome for all stakeholders.”