If you want to wipe data and restore your BlackBerry PlayBook to factory settings then you can do this easily from security settings, lets see how to reset PlayBook to factory settings.
Note: Before performing this step make sure you have saved your all data from PlayBook tablet, including your videos, pictures, downloads, apps, etc.
Access security settings, tap Settings icon on the top right corner ( see also how to access PlayBook settings using frame gestures)
Tap “Security” and then tap “Device Wipe” option
In the text box type “blackberry” to confirm the device wipe.
After typing the “blackberry”, tap the Wipe Data button. Now your PlayBook tablet will be lock, wait and let PlayBook to perform reset process.