
Salon biz may get a haircut
Shareholders of hair salon chain Regis Corp. may soon be getting a haircut, The Post has learned.
The company that runs 12,700 salons, including those under the Sassoon, Supercuts and MasterCuts nameplates, last week took final bids in an auction to sell itself but, unsatisfied with the offers, set a new best and final deadline of yesterday, a source close to the situation said.
Regis, since announcing in August it was seeking a buyer, has seen its shares rocket from $15.37 to its close yesterday at $20.64, a $1.19 billion market cap.
“The company is not worth its trading price,” the source said, adding that if a deal is reached it will be for less than where it is trading. A second source close to the situation said as of a few weeks ago interest was “in the high teens.”
Regis has struggled financially as chains offering haircuts at lower prices — including GreatClips and SportClips — have taken their market share, Gerson Lehrman said in a report.
Regis and its sell-side banker Peter J. Solomon declined comment.

