28. PetSmart Inc

28. PetSmart Inc

It's almost inconceivable that a brand with as many stores as PetSmart could be on the brink of collapse, but it's close. Many of us think of PetSmart the moment we need to go out and buy anything pet related, so what's the problem? We'll answer that for you; it's debt. As with so many other firms, PetSmart's debt has slowly built up to the point where it's become an issue. It currently stands at $8bn.

Although many of the debts don't need to be repaid until 2022 at the earliest, PetSmart currently lacks ideas as to how they might meet those repayments. They've called in specialist advisers to assist with restructuring the company, and also stepped further into the online marketplace as a response. Deciding the quickest route to success was to buy an established brand and run it themselves, they acquired Chewy. We don't think the $3.35bn price tag will have helped much with their bottom line though; according to Reuters, it's the most anybody has paid for a website in history.

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Did You Know...

I

Chefs made their way into celebrity land a while ago. But how many celebrities that weren’t trained as professional cooks are actually whizzes in the kitchen? Here are several that come to mind.

II

Actress Julia Roberts is confident about her cooking skills. “I’m quite a good cook,” she told E! News. “I’m like a closet home ec teacher…I can really cook anything.” Roberts has said she often cooks fish for herself and her kids. And speaking of her three children, “They think that I’m a good cook,” Roberts told People. “They actually told me that I should open a restaurant.” She also relishes cooking for the holidays, particularly shredded Brussel sprouts. Roberts hasn’t published a cookbook, but we did find recipes attributed to her for peach crisp and banana hemp muffins. Or you can make the same summer salad the actress supposedly eats.

III

Chrissy Teigen started off as a supermodel. Then her love of cooking filtered into her professional life too. At this point, she’s created recipes for a limited Blue Apron release and also just launched her own home and cooking line at Target named “Cravings,” after the two cookbooks she’s released. Teigen describes cooking as “a time of peace” for herself. So maybe peace out to her tuna melt sandwich or the fried chicken wings that are a favorite of her husband, John Legend.

IV

Lady Gaga, whose real name is Stefani Joanne Angelina Germanotta, comes from a cooking Italian family. Her father started his own restaurant in New York and also published a cookbook. And apparently, Lady Gaga has inherited the family’s cooking genes. Her Instagram account occasionally features photos of her culinary activities. Sure, sometimes it’s topless cooking. But other times it’s more poignant like in the post she shared about her bringing food to the family of her dear friend who passed away. Want to try a Gaga/Germanotta family favorite? Check out her recipe for whole wheat pasta with a sweet fennel sauce.

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