Advisors called in as Planet Organic considers sale
Health food grocery chain Planet Organic has called in advisors from City firm Interpath as it contemplates a sale of the business.
The retailer is working on a review of its strategic options, Sky News reports.
Founded in 1995, Planet Organic, which trades from 13 stores predominantly in London, sells organic food and drink as well as health and beauty products.
Despite the retailer due to open a 14th store in Teddington, South West London, Planet Organic has recently closed a number of outlets in the last few months.
Planet Organic is one of many retailers whose business was hit hard by the effects of COVID-19, impacted by a reduction in footfall. It is believed to have been loss-making for the last two years.
Despite this, the retailer is reportedly seeking funds to aid its expansion plans.
A Planet Organic spokesperson said: “We are working closely with our advisors to help us navigate options to secure further investment.
“This additional funding will enable us to support the next phase of our current growth plans.”