Biff Picone and Nadine Joli-Coeur sold Natural Pawz to Independent Pet Partners in 2018,...
Natural Pawz staff at the Natural Pawz location on Washington Ave. on Wednesday, Feb. 22, 2023.In an unexpected phone call this month, Natural Pawz co-founder Biff Picone received distressing news: An employee at a Houston-area store had just been told to put up liquidation sale signs.
Picone and Joli-Coeur declined to say what they sold the chain for in 2018. The deal approved by the bankruptcy court calls for them to assume the leases of the stores that will remain open and pay $500,000 plus 200 percent of the cost of the inventory in the stores, which they said had not yet been calculated.
Selling helped elevate the Natural Pawz brand in a way that two first-time entrepreneurs couldn't have, Joli-Coeur said, but it also meant removing the brand from its identity as a Texas-owned and Texas-run small business — something they hope to bring back with them as they retake the reins.
"Joy, thrilled, oh my God," Jackson recalled."I have trust with these guys. I can ask their recommendations on, 'What about this food, what about this snack?' I kind of rely on their recommendations. So I was thrilled that they were staying open.
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