Wed, 12 May 2021 | ADMINISTRATION
Hairdressing school Sassoon Academy has revealed that it is ready to appoint administrators and explore options including a potential sale, after struggling to recover from the impact of COVID-19 lockdowns.
Following a year of forced closures, the business has submitted a notice to the High Court to appoint administrators in a bid to explore its options - including the structuring or sale of the business - moving forward.
Haircare Limited, the vehicle that operates the Sassoon Salon and Academy brands in the UK, has revealed that it has chosen its administrators, having drafted insolvency specialists Andy John and Neil Bennett from Leonard Curtis.
The Vidal Sassoon brand began in London's West End in 1954, when founding hairdresser Vidal Sassoon opened his first salon on Bond Street. Sassoon garnered fame as the creator of the bob cut, which became popular during the 1960s.
The business has since gone on to provide hairdresser education via its academy, which has become a popular destination for hairdressers wishing to learn the trade or improve their skills.
Sassoon sold his business interests in 1980 before the business was acquired by US haircare firm Regis in the early 2000s.
The brand is one of many within the industry that has suffered as a result of COVID-19 restrictions. Nail bars, beauty salons and spas alike have all faced financial struggles as a direct result of lockdown measures. Social distancing rules have also had a particularly big impact on the industry, which commonly requires close contact with members of the public in order to provide their services.
View the latest distressed UK businesses here.
Provides expert soft and hard landscaping and groundwork services for commercial clients throughout England and Wales. Maintains a dedication to completing all projects on time and within budget. Has established an excellent reputation in its sector.
FREEHOLD
This is a rare opportunity to purchase a high quality, well established domiciliary care business which has been trading extremely well.
LEASEHOLD
Profitable. Debt-free. 55+ customers. Accreditation. Well located. Repeat business (70%+). Relocatable/New lease/Freehold options. Blue-chip customer base. Offers Invited.
RELOCATABLE
27
|
Jun
|
Administrators seek buyer for listed pharmaceutical company | ADMINISTRATION
Listed pharmaceutical firm 4D Pharma Plc has fallen into adm...
24
|
Jun
|
E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE
Deals Incorporated, a Manchester-based e-commerce retailer t...
23
|
Jun
|
Auto Trader completes acquisition of Autorama at nearly 16x gross profits | BUSINESS SALE
Auto Trader has completed the acquisition of new vehicle lea...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources