Holland & Barrett is eyeing a rescue bid for food and personal care retailer Planet Organic, which is teetering on the edge of collapse, according to reports.
Planet Organic, which was founded in 1995, has reportedly been working with Interpath on a review of its strategic options following financial hardship since early this year.
The health food chain, which is owned by investment group LetterOne, is among a handful of parties interested in buying parts of Planet Organic, Sky News has learned.
Sources familiar with the matter told the news service that Holland & Barrett is more interested in targeting acquisition of the brand and its intellectual property instead of its 13-store portfolio.
The move comes after Planet Organic’s chief executive George Dymond reportedly told staff that the company’s level of sales had not returned to pre-pandemic levels.
“While we have taken every possible action to improve our position, including additional investment from our existing shareholders, we have so far been unsuccessful in raising sufficient funds needed to support the business and the growth plan,” Dymond said, as reported by Sky News.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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