PetCenter faces store closures and massive debt in Czech Republic and Slovakia

The pet supplies retail chain PetCenter is facing significant financial difficulties across its operations in the Czech Republic and Slovakia. In Slovakia, the company has begun closing several stores and conducting large-scale inventory liquidations, with customers reporting empty shelves and discounts of up to 50 percent.

In the Czech Republic, the situation involves substantial debt. The new owner, Petr Vinklář, has requested a three-month moratorium from creditors through Nexoris Finance to address liabilities exceeding 765 million Czech koruna. The company's financial reports show deepening losses, with a reported loss of 278 million Czech koruna in 2024, contributing to a cumulative loss of over 940 million Czech koruna since 2019.

The proposed rescue plan aims to reduce costs by negotiating lower rents with shopping center landlords and selling approximately two-thirds of existing stock. The company intends to use the three-month period to reach agreements with various creditors and landlords to restore its ability to meet obligations.