Pet Pharmacy Goes Bankrupt With Over $100M In Debt

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WILMINGTON, Del. — Pet Apothecary LLC, a Chicago-based veterinary compounding pharmacy, has filed for Chapter 11 protection in a Delaware bankruptcy court, citing more than $100 million in debt. The filing, made late Friday, includes Pet Apothecary and its 27 affiliates, listing approximately $101 million in unsecured note debt and indicating plans for reorganization.

The company specializes in creating customized veterinary medications, including treatments not available through retail pharmacies. Its zoological division provides medications for exotic animals in zoos, aquariums, preserves, and research facilities.

According to the bankruptcy filings, Pet Apothecary has between $100 million and $500 million in overall liabilities. To support its reorganization efforts, the company has secured $10 million in debtor-in-possession financing. Paladin Management Group has been retained as its financial advisor.

Pet Apothecary is represented by William E. Chipman Jr. of Chipman Brown Cicero & Cole LLP.