Major pet retailer in shock closure owing $500k
A MAJOR Australian pet wholesaler operating since the Second World War has been put into a shock liquidation owing hundreds and thousands of dollars.
Auspet & Vet (SA) Pty Ltd went bust on December 20 owing $440,216 to creditors and $87,903 to five of its 16 employees.
The company has operated since 1944 and offered more than 6000 products in the aquarium, pet, equine, rural and garden trades, according to its website.
While the company's warehouse is in South Australia, its registered office is in Brisbane.
Australian Pet Brands, owed $88,836, Masterpets Australia, $35,648 and Petworx, $23,083, are among 52 creditors.
Auspet & Vet (SA) director Guy Tingey is also listed as a creditor, owed $32,849.
Loganlea's World's Best Hoof Oil Pty Ltd is a smaller creditor with $884 owed.
Leon Lee of Morton's Solvency Accountants has been appointed liquidator to the company.
Auspet & Vet (SA) listed $73,487 spread across three National Australia Bank accounts and $27,000 in stock as its assets, worth $100,487.
The company was contacted for comment.
In December dozens of businesses were placed into liquidation.