PetSmart Inc.
PetSmart felt the need to restructure in order to handle its $8 billion debt, although none of it is due to mature until 2022. It has been unable to adapt to the changing business scene. Other e-commerce sites have been found to be more convenient and even cheaper. It eventually bought Chewy, its own e-commerce site, although it shelled out an impressive $3.35 billion for it. We hope it will pay off!
PetSmart
Payless
Payless applied for bankruptcy, laid off employees, and shut down over 600 stores. Payless has since made its comeback after going through a reorganization in August 2017. Still, it remains in danger of not paying. There are still lots of Payless stores around the country. In 2017, CEO Paul Jones explained, “We have accomplished our goals of strengthening our balance sheet and restructuring our debt load, positioning Payless to create substantial value for our stakeholders.”
Payless
