Dispute over Pet Center

The controversy raging over pet supplies chain Pet Center has now hit the headlines in the business pages of the Czech press.
The story so far: Supernius Pet, which is backed by investors including Tomáš Chrenek, one of the richest men in the Czech Republic, and his son, acquired the company MVM Invest, operator of Pet Center Czechia, in February 2019. Supernius now claims that the purchase price paid to Martin Štefunek and other investors was unjustified in view of the unsatisfactory state of the pet supplies chain.
Supernius Pet accuses the former owners of MVM Invest of not having disclosed the complete truth about the company it was sold. According to media reports, the accusation is based primarily on the earnings before interest, taxes, depreciation and amortisation (EBITDA) in 2018, which MVM Invest artificially inflated without the knowledge of Supernius Pet.
Czech media outlets report that Tomáš Chrenek and his son are now seeking to recover the sum of 280 mio Czech crowns (approx. 10.6 mio euros) in court. This is roughly half of the purchase price paid, according to the press reports.