The parent company of Hair Cuttery, Bubbles, and other salon chains will close more than 80 locations around the country starting later in January, the Washington Business Journal reported. The Ratner Cos., based in Vienna, Va., said that it will close 10 percent of its 844 stores. The portfolio currently includes salons under the Hair Cuttery, Bubbles, Salon Cielo, Salon Plaza and Cibu brands. The company is making the move to combat “intense competition and rising operating costs,” said Phil Horvath, Ratner President and COO. But the company has already culled its portfolio somewhat in the past two years. The company has typically reduced the portfolio by as much as 5 percent of stores annually. The latest closures follow an evaluation that took into account the stores’ performance and current lease terms. The stores will begin closing in late January. Ratner will maintain a presence in all of its existing markets, according to the company.
