BC-backed PetSmart looks to trim $8B-plus in debt

Specialty Retail | Phoenix, AZ

PetSmart has brought on advisors from Houlihan Lokey to help cut a debt load that exceeds $8 billion, according to Reuters. BC Partners acquired a majority stake in the pet store chain for $8.7 billion in 2014. The latest news comes a day after The Wall Street Journal reported that PetSmart plans to sell a 20% stake in Chewy, an ecommerce pet site it bought for $3 billion last year, to BC Partners in the form of a dividend.

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