Pet supplies e-retailer Perromart becomes insolvent, gets new owner amid dozens of complaints

Pet supplies e-retailer Perromart becomes insolvent, gets new owner amid dozens of complaints

SINGAPORE: Perromart, a popular pet supplies e-retailer, has been sold to a new operator after customers lodged nearly 200 complaints with Singapore’s consumer watchdog over the last five months.

Perromart’s previous sole owner, 25 Holdings, became insolvent and was placed under receivership in March, its new receiver and manager Farooq Mann told CNA on Monday (May 29).

This means it was unable to meet its debt payments on time. Companies can take several routes to rescue the business and avoid bankruptcy, including receivership – a court-appointed tool to help creditors recover funds they are owed.

Perromart – which branded itself as Singapore’s largest online pet store – first came under fire in January when customers turned to social media to air their grievances over delayed or unfulfilled orders.

At the time, its co-founder Roy Lim told CNA the company was unable to catch up on orders and support tickets due to supply chain disruptions and manpower issues stemming from the Christmas, New Year and Chinese New Year holiday periods.

Mr Lim said these were “not excuses” and that Perromart would improve its processes and operational turnaround time, as well as “launch new services that include predictive delivery based on respective products”.

However, in March, Mr Mann was appointed receiver and manager of Perromart after it became insolvent.

It has since been sold to an operator in the same industry, but Mr Mann said he was not at liberty to disclose the buyer’s name at the moment.

“The incoming owner-operator of the business is confident that the new business will be able to provide excellent customer service to all existing and new customers,” added the managing partner of Mann & Associates PAC.

The new owner-operator intends to continue operating at Perromart’s new warehouse in Kallang. Perromart had announced in February that it was in the midst of moving there.

Mr Lim did not respond to further queries from CNA on the receivership.