Vienna, Va. — The Ratner Cos., the parent company of salon concepts such as Hair Cuttery, Bubbles and Salon Cielo, plans to trim its 844-store portfolio by 10%.
The company plans to maintain a presence in all existing markets as it looks to shift resources to its best-performing salons. Ratner Cos. cites “intense competition and rising operating costs,” as well as shifting consumer shopping methods, as the basis for its decision. The firm has engaged in discussions with landlords to renegotiate terms or exit some of its leases.
In addition to store closures, Ratner is reducing staff at its Resource Center in its home office in Vienna to reflect its lower overall footprint. The majority of impacted staff in the salons have been offered employment at sister salons in their immediate areas, according to Ratner.
The store closings have begun and will continue for several months.
SOURCE: The Ratner Cos.