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.
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