SPCA bit by Petcetera woes
By Jeff Nagel - North Shore Outlook

Published: March 31, 2009 8:00 AM
Updated: March 31, 2009 8:26 AM

0 Comments Troubled retailer Petcetera's move into bankruptcy protection has frozen $55,000 it owes the B.C. SPCA.

SPCA spokesperson Lorie Chortyk confirmed the animal protection agency is among the creditors affected.

"We're certainly hopeful that money is coming through," she said. "We're in a position like everybody else that we have to wait and see."

The frozen funds includes $39,166 in sponsorship money from last year, part of which was to support the SPCA's Pet Express program that transfers animals from rural B.C. to the Lower Mainland, where adoption is often easier.

Another $15,810 is from adoption fees Petcetera had collected but had not yet remitted on SPCA shelter animals that were adopted through its stores.

The money is now frozen along with all of Petcetera's other capital and assets.

The company is to file a proposal to creditors in the weeks ahead that could – if it's accepted – see them recover some but likely not all of their outstanding claims.

Petcetera is continuing to operate and is selling off inventory to increase cash flow.

There are still 200 pets from SPCA shelters at Petcetera outlets.

"We're not pulling the animals we currently have in there," Chortyk said. "But we're not moving any more animals in to Petcetera at this time."

She said the SPCA wants to ensure animal welfare isn't affected by the retailer's reorganization before adding more to the satellite adoption program.

Fees are expected to flow normally from future adoptions at Petcetera.

"We hope they do continue to operate and that we can continue to partner with them," Chortyk said.

http://www.bclocalnews.com/greater_vancouver/northshoreoutlook/business/42190962.html