CALGARY – After months of problems in a number of locations, Planet Organic, a market specializing in fresh and natural foods and supplements seem to close.
In a letter written by CEO Alan Thompson and obtained by Brampton-News, the company said its operations “were over.”
“After conducting a full review of our current financial state, we conclude that there are too many factors working against us to continue operating the Planet,” writes Thompson.
According to the official website, the company operated 11 stores in Canada, including five in Calgary and four in Edmonton.
It also had a location in Victoria, B.C. and another in Mississauga, Ont.
Last month, Calgary Organic Planet store in Royal Oak suddently closed, surprising many staff members who arrived to work to find the door lock had been changed.
When Thompson was asked about closing that store, he said the location will only be closed temporarily and it was only done to assist with the company’s “restructuring.”
The latest developments seem to indicate that these efforts have failed.
“A letter like this can not fully express the various emotions of achieving this difficult decision to close the Planet. I want to thank you for the dedication and hard work you have given, notably through our recent challenges.”
Planet Organic, which began in Edmonton in 1993, has faced difficulties since October 2019, when many customers reported seeing empty shelves in many locations. an official statement from the company said it faced “significant supply challenges.”
Challenges soon turned into accusations of a number of companies that supply goods brought that Planet Organic is in arrears to pay the bills.
In total, the supplier claims to Planet Organic does not pay them for nearly $ 263,000 in goods.
Some suppliers Brampton-News reached said they sent a separate letter stating Planet Organic owes $ 18 million to creditors and $ 12-16000000 separatists to unsecured creditors.
It is believed that they are unsecured creditors will receive only a fraction of what they are owed, only about seven or eight percent.
Meanwhile, as stated in the letter, the company promises to make good by all employees to settle all outstanding salaries including leave.
Brampton News has tried to reach Thompson to comment again on Tuesday, but the request has not been restored.
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