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The owner of Supercuts hair salons has become the latest high street casualty, with its failure putting another 1, jobs at risk following the loss of 85, retail jobs in the past year.
Its parent, Regis UK, appointed administrators in a decision that casts doubt over the future of its salons and large workforce. The shops are expected to trade as normal for the time being while Deloitte , the advisory firm, explores options for the business.
Other recent failures include Karen Millen and Coast , which closed all their stores. However, retail industry sources told Sky News that they expected a buyer to be found for the Supercuts chain. The heavy job losses are the fall out from a high-street crisis that has seen the closure of thousands of shops and well-known retail names disappear.
While many of the job cuts are the result of closures, thousands are also down to cutbacks, as retailers offset cost increases caused by the rise in the legal minimum wage and the apprenticeship levy, higher business rates and an increase in the cost of goods as a result of the Brexit-led fall in the value of the pound. Havaneser BL.
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