The internet has changed the nature of how people take care of their pets.
You can set your food delivery on an automated schedule which saves you fron. having to lug it from the grocery store. The same logic applies to cat litter, poop pickup bags for walking your dog, and really anything else you need.
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And, while the internet can’t provide healthcare for your animal (telemedicine does not really work for animals) you can fill your pet’s prescriptions online.
In addition, you can use the internet to book all sort of services for your animal companion. That can include shopping for the best insurance with the ability to compare plans and what they cover.
The internet also offers easy access to dog walking and pet sitting services. Those used to be something where you either knew somebody, asked a neighbor’s kid, or got a phone number from a flyer hanging in a coffee shop or on the bulletin board at the supermarket.
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None of those methods gave you a pet sitter who was vetted. Instead, you were not only trusting your animal friend with a stranger, you were also giving that person access to your house.
Wag Group helped solve that problem, along with many other concerns, but now the pet services and insurance group has run into some financial problems
Wag helps people find a top-rated dog walker.
Image source: Getty Images
Wag Group offers numerous pet services
Wag Group’s primary public service is its dog walking offering. The company touts that heavily on its website.
“It’s all about convenience. We’ve thought of everything, so you don’t have to. From GPS-tracked walks and customized lockboxes, to set it and forget it booking in the Wag! app,” it shared.
That’s not the only service the company offers.
“Wag! makes being a Pet Parent easy. We’re your one-stop shop for pet care, pet health and training,” it added.
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The company also offers drop-in visits for dogs and cats, animal boarding, pet sitters who sleep over in your home, and a 24/7 vet chat line for pet parents to call.
Wag Group also has two different pet insurance platforms:
- Petted: An insurance comparison tool
- Wag Wellness: A platform which covers routine care.
It also operates, Furmacy, a “secure, user-friendly software for vet staff to e-prescribe to any pharmacy and manage script requests in one place,” the company shared.
It also offers cat and dog food recommendations as well as social media platform for pet owners.
Wag Group has filed for Chapter 11 bankruptcy
“Wag! Group Co., which strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household, is pursuing a comprehensive balance sheet restructuring through a voluntary, pre-packaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware,” the company shared in a July 21 press release.
In the filing, the company reported it had between $10 million and $50 million in both assets and liabilities.
Wag Group has entered bankruptcy with a pre-packaged plan to emerge from it.
The company’s primary secured lender, Retriever LLC , which constitutes the only voting class under the plan, has already voted to accept the pre-packaged plan of reorganization. The plan provides a clear and expeditious path to reduce debt, transition ownership of the company to Retriever, and position the business for long-term success under private ownership.
Retriever will assume ownership of the reorganized Wag Group following court approval of the plan. As structured, the pre-packaged plan is designed to be implemented on an accelerated basis, with Wag expecting to emerge from Chapter 11 within approximately 40 days.
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“This process enables us to move forward with a clear plan and a strong partner who shares our vision for the future,” said CEO Garrett Smallwood. “Retriever’s ongoing support — along with their long-term investment in our business — will provide the financial and operational flexibility we need to continue serving our customers while positioning our business for sustainable growth and long-term success.”
The company expects to operate normally during the bankruptcy period.