PetSmart to Cut-down $8 Million Debt

PetSmart Inc. is the largest US pet retailer and recently hired Houlihan Lokey Inc., an investment bank, in order to trim debts.

The company faces no significant debt maturity until 2020, however, it hopes to take advantage of lower valued bonds in order to reduce debt now.

The company had told investors that part ownership would be moved to the Chewy Inc website to avoid creditors. The companies large online commerce bet in recent years has not paid off and seems to have lead to a lack of decrease in debts.

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