Hairdressing group calls in administrators

Fri, 25 Oct 2019 | ADMINISTRATION

Regis UK, which operates the Supercuts and Regis hairdressing chains, has called in administrators. Deloitte have been appointed to explore options for the future of the business, which operates 223 salons across the UK and employs around 1,200 people.

All branches are to remain open during the process while Deloitte’s restructuring experts work on the business’ future. Industry sources say that they expect a buyer for the chain to be found.

The move to go into administration thwarts a bid by the group’s landlords to overturn Regis’ financial restructuring. Last year, the company agreed a Company Voluntary Arrangement (CVA) with creditors, which would have seen significant rent cuts at many sites. Landlords challenged the proposals in court.

Regis UK’s CVA would have seen rent cuts of up to 100 per cent at over 100 of the group’s 223 UK stores and concessions.

Landlords have criticised the CVA scheme, claiming it is being used as a method of cutting rents. An increasing number of businesses have been seeking to get CVAs, which enable companies to gain rent reductions and new terms on repayment of their debts.

Regis was sold by its American parent in 2017 to global salons operator the Beautiful Group.

Regis said its business, which recorded sales of £65 million in 2017, had been hit by a “perfect storm” of factors, including a decline high-street footfall and higher wages, which it said contributed to cash flow issues.

Joint administrator Rob Harding commented that Deloitte “are working with all key stakeholders to stabilise the situation and provide the best solution possible.” Harding added that Regis UK “operates two very strong brands.”

Share this article

Latest Businesses for Sale

Dagenham, Essex, South East, UK

The business sells a great selection of meats, cooked meats, a range of seasoned sausages and burgers all prepared in-house. Revenue is derived from the sale of quality fresh produce, supplied from reputable sources. The business sees a lot of repeat...

Asking Price: Offers Invited
Turnover: £852,000


Furniture Retailer
County Durham, UK Wide

The business offers a wide range of quality furniture made from materials such as solid oak, solid pine, Indian hardwood, reclaimed wood, veneers, foils and more. A wide variety of different products are displayed in a traditional and contemporary st...

Asking Price: Offers Invited
Turnover: £550,000


Butchers With Modern Bakehouse
Kirkcaldy, Fife, Scotland, UK

Fantastic opportunity to acquire, on a freehold basis, this long standing and well respected traditional local butchers. Thomson of Thornton has been family owned for over 50 years and has built an excellent local reputation for quality and service a...

Asking Price: £600,000
Turnover: £600,000


View more businesses for sale

News Search

Latest News


Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...


Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...


Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Shropshire Leisure Group sold in MBO deal | MBO/MBI

An MBO of Shropshire Leisure Group (SIG) from RBS’s eq...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources