The owner of Supercuts, one of Britain’s largest high street salon chains, has collapsed into administration, putting hundreds of jobs at two major outlets at risk.
Regis UK – which runs Supercuts and the Regis brand – has been passed over to consultancy firm Deloitte who will now manage the firm’s finances.
Its parent, Regis UK, appointed administrators in a decision that casts doubt over the future of its 220 salons and large workforce.
The shops are expected to trade as normal for the time being while Deloitte, the advisory firm, explores options for the business.
Supercuts hair salon owner Regis UK enters administration
In a move that has sent shockwaves through the UK hair industry, respected salon owner Regis UK has entered administration insolvency. This follows a failed attempt to sell the business, which has been struggling in recent years. The move puts thousands of jobs at risk and leaves the future of the company uncertain.
Founded in 1979, Regis UK is one of the country’s leading hair salon chains, with over 200 salons across the UK. It is well-known for its affordable prices and high-quality haircuts. In recent years, however, the company has been facing increasing competition from cheaper online providers. This, combined with rising costs and declining consumer confidence, has put Regis UK in a difficult position.
The company’s decision to enter administration will no doubt come as a blow to its many loyal customers. However, it remains to be seen whether Regis UK will be able to find a buyer and emerge from this difficult period.
Supercuts Salon Franchise
The move raises fears for the future of Supercut’s 220 UK outlets – which hires more than 1,200 people, and a further 100 Regis outlets. Supercuts, a hair salon franchise, was founded in San Francisco Bay in 1975, by Geoffrey M. Rappaport and Frank E. Emmett.
The company’s first location was in Albany, California. The headquarters are in Minneapolis, Minnesota. Today, Supercuts is owned by the Regis Corporation, which also owns Regis Salons, Mia & Maxx, MasterCuts, Cost Cutters, SmartStyle, and First Choice Haircutters in the United States and Canada.
Its UK arm is owned and operated by private equity firm Regent, L.P., under a franchise agreement with Regis Corporation. On Thursday, a Supercuts spokeswoman decline to comment on the chain’s financial circumstances.
Today’s news comes less than a year after Regis UK announced it was seeking a rescue deal in order to stay afloat.
In October, the firm was looking to slash rents through a company voluntary arrangement process as it struggled with lower footfall, the apprenticeship levy and higher pension costs.
The company trades under the Regis and Supercuts brands in the UK.
Deloitte Appointed as Administrators
The move to appoint administrators calls into question the future of its 220 outlets in Britain and the fate of roughly 1,200 employees, although retail industry sources said they expected a buyer to be found.
Sources said that Deloitte had been appointed as administrator to the UK business ahead of a legal challenge to Regis UK’s Company Voluntary Arrangement (CVA), an agreement with creditors that would have involved steep rent cuts at many of its sites.
At the time, Jackie Lang, managing director of Regis UK, said: “This action has been taken to restructure our costs to ultimately enable reinvestment into the business to improve our digital platforms and our expertise in salon. If successful, over 90% of our creditors will be unaffected.”
Read more: My beauty salon needs to go into liquidation
Supercuts UK stores at risk
Supercuts Walthamstow
Supercuts Wembley Central
Supercuts Westfield
Supercuts Wood Green
Supercuts Romford
Supercuts Stratford City
Supercuts Surrey Quays
Supercuts Sutton
Supercuts Tesco Sutton
Supercuts Uxbridge
Supercuts Lewisham
Supercuts Liverpool Street
Supercuts Orpington
Supercuts Edgware
Supercuts Gloucester Arcade
Supercuts Hammersmith
Supercuts Holloway
Supercuts Hounslow
Supercuts Bromley
Supercuts Croydon
Supercuts Ealing
Superbeauty Kings Lynn
Superbeauty Cambridge
Supercuts Pitsea
Supercuts Walton on Thames
Supercuts Slough
Supercuts Staines
Supercuts Milton Keynes
Supercuts Oracle
Supercuts Peacocks
Supercuts Epsom
Supercuts Fareham
Supercuts Farnborough
Supercuts Gillingham
Supercuts Gosport
Supercuts Guildford
Supercuts High Wycombe
Supercuts Ilford
Supercuts Kingston
Supercuts Lakeside
Supercuts Basildon
Supercuts Basingstoke
Supercuts Bedford
Supercuts Bluewater
Supercuts Brighton
Supercuts Camberley
Supercuts Chatham
Supercuts Chelmsford
Supercuts Cobham
Supercuts Eastbourne
Supercuts Aylesbury
Supercuts Banbury
Superbeauty Swansea
Superbeauty Cardiff
Supercuts Swindon
Supercuts Emerson Green
Supercuts Gloucester
Supercuts Bristol
Supercuts Cardiff
Supercuts Chippenham
Supercuts Corby (Asda)
Supercuts Chesterfield
Supercuts Corby (Tesco)
Supercuts Wellingborough
Supercuts Weston Favell
Supercuts Leicester
Supercuts Mansfield
Supercuts Northampton
Supercuts Nottingham
Supercuts Peterborough
Supercuts Derby
Supercuts Yardley
Supercuts Dudley
Supercuts Redditch
Supercuts Stafford
Supercuts Stratford Upon Avon
Supercuts Tamworth
Supercuts Nuneaton
Supercuts Hanley
Supercuts Birmingham
Supercuts Burton On Trent
Supercuts Coventry
Supercuts Dudley
Supercuts Watford
Supercuts Welwyn Garden City
Supercuts Southampton
Supercuts Stevenage
Supercuts Norwich
Supercuts Hemel Hempstead
Superbeauty Wrexham
Superbeauty Longton
Superbeauty Walkden
Supercuts Blackpool
Supercuts Warrington
Supercuts Horwich
Supercuts Leyland
Supercuts Stretford
Supercuts St. John’s Liverpool
Supercuts Oldham
Supercuts Ellesmere Port
Supercuts Blackburn
Supercuts Carlisle
Supercuts Chester
Supercuts Eastlands
Supercuts Manchester
Superbeauty Gateshead
Superbeauty Stockton
Supercuts Yate
Supercuts Bradford
Supercuts White Rose
Supercuts York
Supercuts Scarborough
Supercuts Stockton on Tees
Supercuts Sunderland
Supercuts Trinity Walk
Supercuts Leeds
Supercuts Meadowhall
Supercuts Merrion Leeds
Supercuts Metro Centre
Supercuts Middlesbrough
Supercuts Eldon Square
Supercuts Hull
Supercuts Killingworth
Supercuts Doncaster
Scotland & Northern Ireland
Supercuts Livingston
Supercuts Edinburgh
Supercuts Kirkcaldy
Supercuts Belfast
Supercuts Buchanan Glasgow
Supercuts Clydebank
Supercuts East Kilbride
Supercuts Aberdeen
With over three decades of experience in the business and turnaround sector, Steve Jones is one of the founders of Business Insolvency Helpline. With specialist knowledge of Insolvency, Liquidations, Administration, Pre-packs, CVA, MVL, Restructuring Advice and Company investment.