...By Jack Sylva for TDPel Media.
Bioren Limited, a company recently incorporated by Planet Organic founders Renée and Brian Elliott, has acquired the chain from administrators Interpath.
The sale will keep the Planet Organic name alive and protect the jobs of 194 store employees and 71 head office staff.
The Elliotts, who established Planet Organic in 1995, will purchase ten of the existing Planet Organic shops.
However, four stores, including both of Planet Organic’s locations outside of London in Henley-on-Thames and Teddington, will be closed, resulting in 64 job losses.
Interpath Advisory director Gareth Slater, who led the sales process, expressed his satisfaction with the outcome, stating that the competitive sales process had concluded favorably, allowing the Planet Organic name to continue trading and protecting numerous jobs.
Slater also acknowledged the new owners’ exciting plans for the business and wished them success.
The acquisition of Planet Organic by Bioren Limited will enable the continuation of the business and provide jobs for hundreds of people.
The founders’ involvement in the acquisition will likely result in a continuation of Planet Organic’s ethos and unique selling point, which will undoubtedly be welcomed by customers.