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Planet Organic Seeks Protection From Creditors

EDMONTON, Alberta — Planet Organic Health Corp., which operates a chain of natural and organic stores here, on Friday sought protection from creditors under Canada’s Companies’ Creditors Arrangement Act (CCAA).

Jon Springer, Executive Editor

April 30, 2010

1 Min Read

JON SPRINGER

EDMONTON, Alberta — Planet Organic Health Corp., which operates a chain of natural and organic stores here, on Friday sought protection from creditors under Canada’s Companies’ Creditors Arrangement Act (CCAA).

The company said an Ontario court has provided the company with protection for an initial period of 30 days expiring May 27. Planet Organic sought protection stemming from a $31.1 million (U.S.) debt to its principal lender, Catalyst Capital Group.

The company said the event would not affect its stores doing business under the Mrs. Green’s name in the U.S. Northwest. The company runs nine Planet Organic stores in Canada and 11 under the Mrs. Green banner in the U.S.

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About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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