Lawyers for the Petsway franchise announced the company voluntarily filed for Chapter 11 bankruptcy.

The company owns stores in Springfield, St. Louis and Poplar Bluff. It operates three stores in the Springfield area. The company has operated in Springfield for 70 years.

Attorneys with Berman, DeLeve,Kuchan and Chapman filed the bankruptcy in federal court for the company. Attorneys tell KY3 the company filed the proposed reorganization plans to pay off creditors and improve its distribution system, while increasing sales and efficiency.

Attorneys say the Springfield stores remain profitable. For now, attorneys say they will remain open.