The business, which owns 750 salons, has plans to sell.
With plans to emerge after the coronavirus crisis, the owner of salon chains Hair Cuttery, Bubbles and Salon Cielo has filed for Chapter 11 bankruptcy in Maryland in order to reorganize and sell the business.
“These have been unprecedented and trying times for everyone, and especially for our industry,” said Phil Horvath, president of Creative Hairdressers, who said the company is looking forward to reopening its doors in the future.Azhar Quader, chairman of Tacit, said he expects the salon business to emerge from the COVID-19 pandemic “in a stronger financial position.” Tacit was formed as an investment platform to buy salons — that market is notoriously fragmented.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rule No. 1 for Census Volunteers During Coronavirus: Ask How Someone Is DoingChecking in with the Rev. Deth Im, a community activist in Kansas City., Mo., working on outreach for the 2020 U.S. census in the age of the coronavirus.
Read more »
Couples In Quarantine: Only 18% Are Satisfied With Their Communication During Coronavirus PandemicOnly 18% of couples are satisfied with their communication during the coronavirus pandemic
Read more »
Dutch high school students stuck on boat during coronavirus finish Atlantic crossingA large group of teens from Europe got a warm welcome returning home after being stuck at sea during the coronavirus pandemic.
Read more »
1,000 People Attend Chicago House Party During Coronavirus PandemicIf you had any doubt cases of coronavirus are about to explode because of reckless conduct, check out this video and all doubts will be swiftly erased.
Read more »
Sexual assaults have not stopped during coronavirus pandemic: Here's how to get helpIncidents of sexual violence do not stop while the nation is under stay-at-home orders during the coronavirus pandemic, and experts say they fear cases may be getting even worse.
Read more »
SoftBank-Backed Robotics Firm Brain Raises $36 Million For Expansion Beyond Autonomous Scrubbers During Coronavirus CrisisSoftBank-backed robotics firm Brain Corp. raises $36 million for product expansion during the coronavirus crisis.
Read more »