Brexit blamed for redundancies at Planet X

Planet X of Yorkshire, has made almost half of its staff redundant, sources say. Brexit is being blamed. 

The Rotherham-based company employed 118 staff, and is run by founder Dave Loughran. Its last accounts show an annual turnover of £18.3 million, and profit of £109,689. In 2015 the company made a loss of £86,594 on a turnover of £20 million.

Planet X – which employed 142 staff in 2015 – owns the On One and Holdsworth marques, and also supplies eponymously-branded bikes.

The company’s loss-making US operation was closed at the end of January.

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