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Bioren Limited, whose shareholders include the founders of Planet Organic, Renée and Brian Elliott, has beaten out competition from Sainsbury’s to acquire the majority parts of the business and its assets.
The deal will see 10 Planet Organic stores continue to trade in locations throughout London, safeguarding 194 jobs in-store and 71 jobs in the retailer’s head office. However, four stores are not included in the transaction and will close with immediate effect, totalling 64 redundancies.
The news comes as joint administrators, Will Wright and Christ Pole, from Interpath Advisory were appointed today (25 April). Immediately after the appointment, the firm concluded the sale of the retail chain to Bioren Limited.
According to the directors of Bioren Limited, who plan to “return to Planet Organic’s vision and values”, it will be reinvigorating the business by “celebrating its mission ‘to promote health in the community’ and to renew training and culture, with the aim of inspiring people to eat well and create personal health and vitality, while supporting the earth’s health and biodiversity”.
Planet Organic was founded in 1995 and has grown over the past 28 years to become the UK’s largest chain of Soil Association-certified organic shops, operating from 14 sites across London and the South East.
Will Wright, head of restructuring at Interpath Advisory, said: “Planet Organic is a well-respected brand with wonderful stores and hard working people that genuinely care about the customer experience – which is why over the years it has grown a very loyal customer base.”
