Planet Organic in poor health

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Posted April 30, 2010 11:17 pm.

This article is more than 5 years old.

VANCOUVER (NEWS1130) – A Canadian chain of natural foods supermarkets is under court protection from its creditors. Planet Organic has ten stores: four in Alberta, two in BC, two in Ontario and one in Nova Scotia. The Edmonton-based company filed for bankruptcy protection after its lenders demanded payment of more than $31 million.

A news release says the filing will provide Planet Organic, “with a defined process and the necessary time to restructure its affairs.” It says the goal of its restructuring plan is to make Planet Organic “larger and more profitable.”

The company says all Planet Organic stores will remain open during the restructuring.

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