// Sainsbury’s makes offer to acquire Planet Organic’s name and IP assets
// The supermarket giant joins a queue of bidders for the struggling grocer
Sainsbury’s has become the latest bidder exploring a last-minute rescue bid on Planet Organic.
The supermarket giant has made an offer for the struggling grocer’s name and intellectual property assets in a deal likely to be implemented through an insolvency process, Sky News reported.
Sources said Sainsbury’s interest was “speculative” and downplayed the chances of a rescue deal taking place.
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The grocery chain joins Holland & Barrett and Redbus Ventures in lodging an offer for Planet Organic.
An outcome of the organic supermarket chain’s future is expected next week following an extension to its notice of intention to appoint administrators.
Planet Organic chief executive George Dymond is said to be focused on keeping the business intact.
However, a last-minute rescue deal is likely to result in significant job losses among its 360 workforce.
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1 Comment. Leave new
I would have thought that Sainsbury’s would want their stores as well, all prime mainly London sites. Unless there’s too much overlap but Local stores are often sited closely together.