Court OKs Planet Organic Sale; Directors to Resign

EDMONTON, Alberta — An Ontario court has approved the sale of natural /organic food chain Planet Organic to its largest creditor, Catalyst Capital Group.

EDMONTON, Alberta — An Ontario court has approved the sale of natural and organic food chain Planet Organic to its largest creditor, Catalyst Capital Group. Planet Organic received no cash in the deal but had owed more than $32 million to Catalyst as a result of its convertible notes.

Catalyst acquired all assets of the nine Planet Organic stores in Canada and all the shares of the subsidiary operating 11 Mrs. Green’s Natural Markets in the U.S.

In conjunction with the

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