Renee Elliott, the founding father of Planet Natural, is returning to spearhead a rescue deal for the grocery retailer chain she launched in 1995.
Sky Information has learnt that Ms Elliott has agreed to information a takeover of Planet Natural in a deal anticipated to be finalised on Tuesday.
Metropolis sources acknowledged she had assembled backing from lots of private consumers, and consider to amass the company by the use of a pre-pack administration.
Interpath Advisory, which has been overseeing efforts to find a purchaser for Planet Natural since February, is predicted to be appointed administrator sooner than selling the overwhelming majority of its 13 outlets to Ms Elliott’s consortium.
Peter Marsh, Planet Natural’s former chief authorities, is alleged to have been lined up by Ms Elliott to return to the enterprise.
Additional particulars of the rescue deal, along with the scale of potential job losses, had been unclear on Monday night.
It’s going to come after weeks of talks with a wide range of occasions, with Waitrose, J Sainsbury and Holland & Barrett all having expressed an curiosity in searching for parts of Planet Natural.
Redbus Ventures, an funding vehicle prepare by considered one of many founders of Lovefilm, has moreover lodged a proposal.
Planet Natural trades from merely over a dozen outlets and employs roughly 360 people.
The current chief authorities George Dymond knowledgeable workers last month that it had “not obtained again to the degrees of gross sales that we have been seeing earlier than the pandemic”.
“So, whereas now we have taken each potential motion to enhance our place, together with further funding from our current shareholders, now we have to date been unsuccessful in elevating enough funds wanted to assist the enterprise and the expansion plan.
“I would like you all to know how very sorry I’m that we’re on this place – I’m conscious that this shall be a very uncertain time for you all.”
The chain sells pure meals and drinks, along with healthcare and bodycare merchandise.
Like many retailers, its newest effectivity has been hampered by the pandemic and lowered metropolis centre footfall.
It’s recognized to have been loss-making in each of its last two financial years.
None of those involved inside the deal may probably be reached on Monday.
