Planet Organic, the trendy food, veg, cosmetics and coffee chain, has been saved from closure by its founders, though four stores are to shut with 64 staff laid off.
A deal struck with administrator Interpath will see the group’s founders Renee and Brian Elliott buy a slimmed down ten stores plus its HQ.
Gareth Slater, at Interpath, said: “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.”
As a result of the deal, the two Planet Organic outlets outside of London, at Henly and Teddington, will shut alongside sites in Bermondsey and Tottenham Court Road.
No financial details were available, though Renee Elliott was reported to have assembled a number of private to buy the business through a pre-pack deal.
Other parties said to have been interested in the chain included Waitrose, Sainsbury’s and Holland & Barrett.