British bike company Planet X saved after sale to private equity firm

Yorkshire company's 33 employees transferred to new owners following seven week sale process

Planet X
(Image credit: Future)

British bike company Planet X's future has been secured after it was sold to Winlong Garments Limited, a company funded by private equity firm Baaj Capital LLP.

The Sheffield-founded company was reported to be heading towards administration, but on Friday evening it was announced that it had been sold. All of the company’s 33 employees have transferred to the purchaser as part of the sale.

Thank you for reading 20 articles this month* Join now for unlimited access

Enjoy your first month for just £1 / $1 / €1

*Read 5 free articles per month without a subscription

Join now for unlimited access

Try first month for just £1 / $1 / €1

Adam Becket
News editor

Adam is Cycling Weekly’s news editor – his greatest love is road racing but as long as he is cycling on tarmac, he's happy. Before joining Cycling Weekly he spent two years writing for Procycling, where he interviewed riders and wrote about racing. He's usually out and about on the roads of Bristol and its surrounds. Before cycling took over his professional life, he covered ecclesiastical matters at the world’s largest Anglican newspaper and politics at Business Insider. Don't ask how that is related to cycling.