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PetSmart Lenders Said to Push Back on Proposal to End Chewy Rift

March 26, 2019, 3:49 PM

A group of PetSmart Inc.’s lenders are opposing a company proposal to settle a fight over the retailer’s Chewy.com unit, according to a memo seen by Bloomberg.

Lenders holding more than half of the company’s loan told Wilmington Trust, the administrative agent, they they don’t consent to a proposed amendment to the debt, the agent said in the memo. A law firm representing a group of lenders has scheduled a call for 3 p.m. New York time March 26 to discuss the matter, according to a person with knowledge of the matter who asked not to be identified.

A representative...

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