Facebook Twitter Instagram
    • FREE Email Newsletters
    • About Us
    • Advertise
    • Contact Us
    • Free Magazine Subscriptions
    Twitter Facebook
    Pet Business World
    • Trade News
      • Distributors
      • International
      • Legislation
      • Manufacturers
      • Other trades
      • Retailers
    • New Products
      • Birds
      • Cats
      • Dogs
      • Small Animals
    • Features
      • Industry Experts
      • Retailer profiles
    • Aquatics
    • Columnists
      • Newshound
      • Reptile Trade Views
    • People
    • Magazines
      1. June 2022
      2. May 2022
      3. April 2022
      4. March 2022
      5. February 2022
      6. January 2022
      Featured

      PBW News – June 2022

      By David ReesJune 15, 2022
      Recent

      PBW News – June 2022

      June 15, 2022

      PBW News – May 2022

      May 5, 2022

      PBW News – April 2022

      April 5, 2022
    • Classifieds
    • Trade Directory
    Pet Business World
    Retailers

    Pet chain secures £1m coronavirus loan

    Karen PickwickBy Karen PickwickMay 15, 20202 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    /

    A chain of pet stores that needed to upgrade its online services during the coronavirus crisis has received a £1million loan boost.

    Pet Place, which owns five superstores across North Wales, obtained the Coronavirus Business Interruption Loan Scheme (CBILS) loan from Lloyds Bank after successfully scaling up its online and click and collect services. Demand for the service increased by 600% during lockdown, which meant a rapid change to its operating model in the first few weeks.

    With stores experiencing reduced footfall, the seven-figure CBILS loan has enabled the business to ramp up its online activity. As well as supporting a relaunch of its website, the support has made it possible for Pet Place to increase the availability of popular product lines for pet owners while committing to paying its suppliers swiftly.

    The bank funding comes after a period of significant investment across Pet Place’s superstores after it rebranded from Farm & Pet Place. Stores remain open for click and collect services.

    EMERGENCY

    Sion Pritchard, director at Pet Place, said: “Our online presence has always been designed to supplement the revenue generated by our physical stores so the sudden and vast increase in online orders presented a major challenge. While we’ve been able to successfully redeploy our resources, we wouldn’t have been able to move so quickly or meet the working capital demands of such an exercise without this emergency funding – particularly given the level of investment we’ve put into our stores in the last year.

    “Our overall business has been by no means immune to the economic effects of the current pandemic but, with the support of the team at Lloyds Bank, we’ve been able to meet them head on while keeping our employees safe and our suppliers paid in full.”

    Trevor Percival, relationship director at Lloyds Bank, said: “We’ve been by the side of Pet Place for more than a decade and, in that time, have seen it evolve its offer while delivering growth. It’s perhaps no surprise then that the team had been agile enough to adapt its operations so quickly and use the loan scheme to reduce the impact of lockdown on sales. As current measures ease, I’ve every expectation that Sion and the team will have developed a stronger more resilient business for the future.”

    Share. Facebook Twitter LinkedIn Email
    Previous ArticleForthglade shares Pawsitive Vibes
    Next Article Tech to help social distancing for stores
    Karen Pickwick

    Read Similar Stories

    Other trades

    Pets & Friends opens grooming academy

    June 28, 2022
    Retailers

    Jollyes looking for cute pets in Southport

    June 28, 2022
    Retailers

    PetPlace scores highly for community spirit

    June 27, 2022
    Most Read

    Meripac launches innovative bird feeder

    July 1, 2022

    PIF begins export scheme trial

    July 1, 2022

    New cat renal care products from Purina

    July 1, 2022
    © 2022 Lewis Business Media. All Rights Reserved.
    Lewis Business Media, Suite A, Arun House, Office Village, River Way, Uckfield, TN22 1SL

    Privacy Policy | Cookie Policy | Terms & Conditions

    • OvertheCounter
    • Pest Magazine

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “ACCEPT ALL”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsREJECT ALLAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    AWSALBCORS7 daysThis cookie is managed by Amazon Web Services and is used for load balancing.
    cookielawinfo-checkbox-necessary1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Necessary" category .
    PHPSESSIDsessionThis cookie is native to PHP applications. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. The cookie is a session cookies and is deleted when all the browser windows are closed.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    CookieDurationDescription
    AWSALB7 daysAWSALB is a cookie generated by the Application load balancer in the Amazon Web Services. It works slightly different from AWSELB.
    explat_test_aa_weekly_lohp_2021_week_4517 days 8 hoursNo description
    ppwp_wp_session30 minutesNo description
    tk_ai14 daysGathers information for WordPress by themselves, first party analytics tool about how WP services are used. A collection of internal metrics for user activity, used to improve user experience.
    tk_qssessionGathers information for WordPress by themselves, first party analytics tool about how WP services are used. A collection of internal metrics for user activity, used to improve user experience.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    CookieDurationDescription
    OAGEOsessionOpenX sets this cookie to avoid the repeated display of the same ad.
    OAID1 yearThis cookie is set when an AdsWizz website visitor have opted out the collection of information by AdsWizz service or opted to disable the targeted ads by AdsWizz.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    CookieDurationDescription
    _ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
    _gat_gtag_UA_31822138_71 minuteSet by Google to distinguish users.
    _gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
    tk_lr1 yearThe tk_lr is a referral cookie set by the JetPack plugin on sites using WooCommerce, which analyzes referrer behaviour for Jetpack.
    tk_or5 yearsThe tk_or is a referral cookie set by the JetPack plugin on sites using WooCommerce, which analyzes referrer behaviour for Jetpack.
    tk_r3d3 daysJetPack installs this cookie to collect internal metrics for user activity and in turn improve user experience.
    SAVE & ACCEPT
    Powered by CookieYes Logo