ROSEBUD pet shop Pets Paradise has closed as a result of the company going into receivership.
The store, which encouraged many a passerby to pop in and peer at puppies and kittens waiting for new homes, is now dormant as receivers look for a new master franchisor for the multimillion dollar operation.
The shop at Rosebud Plaza, which ceased operations on August 2, is the only Pets Paradise store in Victoria to have closed so far.
Franchisee-operated outlets are continuing business as usual.
Deloitte is handling the receivership of the company and Sellers Muldoon Benton is dealing with creditors.
Deloitte partner Tim Norman said more store closures were predicted in coming months and every effort was being made to relocate staff from the closed store to other outlets. "Pets Paradise franchisees have been provided with a detailed update on the
situation, including details of a number of initiatives and offers of support, including discounts on stock ordered from head office, ongoing head office support and, during the receivership, discounts on royalty payments."
Mr Norman said the receivers and managers were committed to providing franchisees with further updates as they continue trading as usual.
"[We] are aware of the impact the current situation is having on people employed at company-operated outlets and, where store closures are necessary, everything is being done to manage this difficult process as sensitively as possible."
Both the Pets Paradise and Billy Baxter's businesses, which include the franchise networks, have been advertised for sale.
Mr Norman said there had been strong interest from a large number of parties since the sale was advertised.