Hope for Planet X as trading continues as normal and compulsory strike-off action discontinued

Compulsory strike-off action against the cycling retailer and bicycle manufacturer Planet X has been discontinued, according to an update at Companies House.

The update comes a day after a First Gazette Notice was filed, date 6 June, stating that “the Registrar of Companies gives notice that, unless cause is shown to the contrary, the Company will be struck off the register and dissolved not less than two months from the date shown above.”

The notice continued: “Upon the Company’s dissolution, all property and rights vested in, or held in trust for, the Company are deemed to be bona vacantia, and will belong to the Crown.”

A report from The Business Desk published this week also suggested that the Rotherham-based business “filed a notice of intention to appoint an administrator”, while an open High Court case appeared to confirm that Richard Mostyn-Jones, a Planet X director, applied for a Notice of Intention to appoint an administrator on 1 June.

> Planet X refuses to comment on administration rumours

Over the past few weeks, road.cc has heard from a source who claimed that 13 people had been made redundant by the company in May “as [Planet X] seek to stem heavy losses”, and there have also been rumours of administration.

We contacted Planet X numerous times for official comment on the matter and were eventually told this week that “at this time they do not wish to comment on any of the above”.

Planet X designs and sells its own bikes, as well as cycling clothing and equipment, and on its website earlier this week was advertising sales and deals with up to 80 percent off bikes and kit.

However, the latest update at Companies House seems to suggest that the threat of the company being struck off the register and dissolved has now abated for the time being, while trading at its Rotherham base appears to be continuing as normal.