…Researched and contributed by Enitan Thompson for TDPel Media.
Administrators Interpath have sold the Planet Organic chain to Bioren Limited, a new business that counts Planet Organic founders Renée and Brian Elliott as its shareholders.
Bioren will acquire 10 Planet Organic stores, protecting 194 jobs, as well as a further 71 at the company’s head office.
However, four stores will close, with the 64 staff members there losing their jobs.
The four stores to close are Planet Organic’s locations in Bermondsey and on Tottenham Court Road in London, and those outside of the capital in Henley-on-Thames and Teddington.
Gareth Slater, director at Interpath Advisory who led the sales process, expressed his delight in concluding the transaction and noted that the sale protects a large number of jobs.
Slater also said that the new owners have exciting plans for the business, and he wishes them the best for the future.
While the news that 10 Planet Organic stores will be saved from closure is undoubtedly good news, the loss of four stores and 64 jobs is a blow to the company’s employees and the communities surrounding those stores.
The founders of Planet Organic, however, appear to have faith in the future of the company, and it will be interesting to see what their plans are for the business going forward.