{"id":3185,"date":"2018-10-12T13:40:30","date_gmt":"2018-10-12T13:40:30","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/regis-hairdressing-group-seeks-rescue\/"},"modified":"2018-10-12T13:40:30","modified_gmt":"2018-10-12T13:40:30","slug":"regis-hairdressing-group-seeks-rescue","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/regis-hairdressing-group-seeks-rescue\/","title":{"rendered":"Regis hairdressing group seeks rescue"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Regis hair salon website\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/AB61\/production\/_103837834_regis.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Regis hair salons<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Regis UK, the firm behind hairdressing chains Regis and Supercuts, is seeking a rescue deal in order to stay afloat.<\/p>\n<p>The firm is looking to slash its rents through a company voluntary arrangement (CVA) as it struggles with lower footfall, the apprenticeship levy and higher pension costs.<\/p>\n<p>The firm employs 1,300 staff and has 220 salons.<\/p>\n<p>It said it did not intend to have any store closures or redundancies as part of the CVA plan.<\/p>\n<p>Jackie Lang, managing director of Regis UK, said: &#8220;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.&#8221;<\/p>\n<p>The firm said it planned to ask for a reduction on rental costs on half of its stores.<\/p>\n<p>Eddie Williams, a partner at Grant Thornton, which is acting for Regis UK, says: &#8220;The company has put forward a proposal to its creditors that seeks to amend some terms in its lease obligations and stabilise the business.<\/p>\n<p>&#8220;As part of this, there are no planned salon closures and as such, no employee redundancies are planned, which is a positive in the context of the challenges the High Street has seen over the last 12 months and which continue to be prevalent.&#8221;<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-45839391\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Regis hair salons Regis UK, the firm behind hairdressing chains Regis and Supercuts, is seeking a rescue deal in order to stay afloat. The firm is looking to slash its rents through a company voluntary arrangement (CVA) as it struggles with lower footfall, the apprenticeship levy and higher pension costs. The firm employs &hellip; <\/p>\n","protected":false},"author":0,"featured_media":3186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3185"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/3186"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}