Creative Hairdressers, Inc. Announces Sale to Tacit Salon Holdings, LLC

Salons Plan to Reopen Safely in Accordance with State and Municipal Guidelines

VIENNA, Va.--(BUSINESS WIRE)--Creative Hairdressers, Inc., a leading operator of salon brands including Hair Cuttery, BUBBLES and Salon Cielo, today announced that it has received approval to sell substantially all of its assets to HC Salon Holdings, an affiliate of Tacit Salon Holdings, LLC. The company will continue to operate and plans to reopen stores in a phased approach with procedures put in place to ensure the safety of salon professionals and guests.

“We are pleased to have navigated this stage of the process and have a new financial partner who is committed to support the business and help us rebound post-crisis,” said Phil Horvath, President of Creative Hairdressers, Inc. “We are excited to move forward and focus on re-opening many of our salons, which we will do safely and in accordance with all state and municipal guidelines in the weeks ahead. We especially look forward to welcoming back our talented and creative salon professionals, and to serving our loyal customers in the very near future.”

On April 23, 2020, Creative Hairdressers announced a plan to significantly reduce its debt obligations and establish a sound financial platform for long-term growth. In order to implement the plan, the Company voluntarily filed for protection under Chapter 11 in the United States Bankruptcy Court for the District of Maryland.

“We are pleased to begin a new chapter as the company resets and lays plans for a successful future,” stated Seth Gittlitz, Chief Executive Officer of Tacit Salon Holdings, LLC. “The near-term objective is reopening safely and bringing back our salon professionals and staff to serve customers, and be well-positioned to seize growth opportunities over the longer term.”

About Creative Hairdressers, Inc.
Creative Hairdressers, Inc. operates salons nationwide under the trade names Hair Cuttery, BUBBLES, and Salon Cielo. The company began in 1974 to create a quality whole-family salon where stylists could make a good living. Today, the family of salons continues to share this commitment with a transparent, people-first culture that offers the best career trajectory in the industry for salon professionals, field leaders and corporate employees. More information is available at www.ratnerco.com.

About Tacit Salon Holdings, LLC
Tacit Salon Holdings, LLC (“TSH”) is a holding company formed to acquire salon platforms in the $47 billion hair care industry in the United States. TSH provides capital and infrastructure and teams up with industry leaders to acquire, reposition, and grow hair care assets in a socially responsible way. More information at: www.salonholdings.com