Supercuts and regis uk salons announce administration

Regis UK, which owns the UK's Supercuts and Regis hair salons announced yesterday that it has gone into administration, with Deloitte being named the official administrator. The salon chain has 220 high street stores throughout the UK employing 1,200 people and managing director, Regis UK Jackie Lang exclusively told HJ, “We are a profitable business and it wasn’t that we had run out of cash but four of our landlords - out of the 120 - challenged the CVA and with fees already at £1million and more to come pending a trial date, our debenture holder stepped in to protect their brands and the team members employed. I am super confident of the interest to purchase the business within a matter of weeks rather than months, and every stylist who wants to stay with our business, will stay.” Rob Harding, joint administrator at Deloitte told HJ: “The group operates two very strong brands and we are working with all key stakeholders to stabilise the situation and provide the best solution possible. We would like to thank the group’s employees and other key stakeholders for their ongoing support at this difficult time.” Hilary Hall, chief executive of the NHF/NBF said in an exclusive comment for HJ: “It’s really sad news that Regis and Supercuts have gone into administration. Trading conditions for salons are tougher now than ever, especially those facing rising rents and business rates. We know the group tried to renegotiate on rents but with other rising costs such as wages, pensions and the apprenticeship levy, reduced rents alone may not have been enough to save them. Against a backdrop of rising competition as so many more hair and beauty salons are opening, it’s inevitable that some businesses will not survive." She added: "It’s a small crumb of comfort but many salons across the UK are reporting a shortage of qualified and experienced staff. So if a buyer for the group can’t be found, we hope that the people working there will find new jobs quickly.” In October last year, HJ reported the salon group had requested rent cuts of between 25% and 100%, At the time the company warned that if the changes were not approved, it was likely it would enter administration.