Pet Food Firm Asks Chapter 11 Shelter

egional pet-supplies distributor with 175 full- and part-time employees has filed for protection from creditors while it reorganizes its finances.

Aquarium Supplies Unlimited, an Anaheim wholesale distributor of pet foods and supplies, listed $15.5 million in assets and $14.1 million in liabilities in its Chapter 11 filing last week in U.S. Bankruptcy Court in Santa Ana. The company, which also does business as Pet America (not related to a Fullerton pet store of the same name) blamed its woes on the recession and the loss of a major account that began selling directly to retailers.

A financial adviser retained to help newly hired Chief Executive Officer Richard Corrado reorganize the company said that no layoffs are anticipated.