The founders of Planet Organic have bought the chain back from administrators, ensuring the organic supermarket chain stays alive, but four stores will be closed with their 64 staff to be laid off.
Administrators Interpath sold the chain to Bioren Limited, a business incorporated last month with Planet Organic founders Renée and Brian Elliott as its shareholders.
They will buy 10 Planet Organic shops, keeping the chain alive and protecting 194 store jobs as well as a further 71 at the company’s head office.
However, four more locations will close, with the 64 staff members there losing their jobs.
Gareth Slater, director at Interpath Advisory who led the sales process, added: “After a competitive process, we’re delighted to have concluded this transaction which will see the Planet Organic name continue to trade and, importantly, protects a large number of jobs.
“We know that the new owners have exciting plans for the business and we wish them the very best for the future and look forward to seeing the business go from strength to strength.”
The four stores to close include both of Planet Organic’s locations outside of London - in Henley-on Thames and Teddington - as well as two London sites in Bermondsey and on Tottenham Court Road.
