PlanetX into administration

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MichaelB
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PlanetX into administration

Postby MichaelB » Tue Jun 06, 2023 8:10 am

From a report in cycling news, seems that Brexit & Covid have had their impact and that they have signaled their intent to file for administration

Bugger
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find_bruce
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Re: PlanetX into administration

Postby find_bruce » Tue Jun 06, 2023 8:19 am

Always a shame to see an established business fall over. Unexpected given last year it returned a profit of £1.1 million on a turnover of nearly £17 million. Nothing on the website however
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nickobec
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Re: PlanetX into administration

Postby nickobec » Wed Jun 07, 2023 3:56 pm

More details https://bikebiz.com/planet-x-looks-set- ... istrators/
Thanks for the heads up, went a bought a supply of my favourite full finger gloves.
warthog1
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Re: PlanetX into administration

Postby warthog1 » Sat Jun 10, 2023 10:30 pm

https://road.cc/content/news/future-pla ... old-301801

"Following a seven week sales process that generated significant trade and financial investor interest, the business and assets were sold via a pre-pack transaction to Winlong Garments Limited. Howard Smith and Rick Harrison from Interpath Advisory were appointed joint administrators to the Company prior to the transaction completing.

"All of the Company’s 33 employees have transferred to the purchaser as part of the sale."
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