Accounts recently published by Wynnstay, the former owners of Just for Pets, reveal that the company took a heavy financial hit after it put the pet business into administration last year.

Just for Pets was put into administration in October and associated costs of £6.59 million saw the group report a loss after tax of £280,000, compared to 2016's £5.8m profit.

The future of the specialist pet retailer was secured after the acquisition of the business by newly-formed company PSR Trading Limited, a sister company to established business Pedigree Wholesale.

 The deal enabled Just for Pets to be rescued from administration and to maintain employment of nearly 200 staff from its head office and store operations in 18 locations across the country.

Commenting on the Wynnstay accounts chief executive Ken Greetham said: “The group's results as a whole were impacted by Just for Pets, which was very regrettably placed into administration in early October. However, this decisive action helped to minimise the potential adverse effect on both creditors and employees, preserving most jobs.

"Our core agricultural business delivered a significantly improved performance year-on-year, reflecting better trading conditions for our farmer customers, with milk and other farm output prices recovering from the depressed levels of the last two years. The recovery in prices over 2017 drove a greater sense of optimism across the agricultural sector.

"The agricultural trading backdrop is stronger than this time last year and the new financial year has started in line with management expectations.

"2018 is our centenary year and we look forward to marking it with a number of events and initiatives for all staff, customers and other stakeholders."