Buzz People

Supercuts calls in administrators risking 1,200 jobs

The owner of the Supercuts and Regis hairdressing chains, Regis UK, has appointed administrators, putting 1,200 jobs at risk.
Accountants Deloitte have been called in to look for options for the 220-salon business.
The salons will remain open while a buyer is sought for the business.
Deloitte said changes in consumer behaviour had led to lower footfall in shopping centres where many of the salons are located.
"The retail trading environment in the UK remains extremely challenging and Regis UK Limited had been seeking to address this through a restructuring of its business," said Rob Harding, joint administrator.
Last year, Regis UK negotiated a cut in the rent it paid through a legal process known as a Company Voluntary Arrangement (CVA), but landlords challenged the proposals in court.

https://www.bbc.co.uk/news/business-50175587#
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