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.

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