Ratner Cos., the Vienna, Va.-based parent company of hair salon chains including the Hair Cuttery, Bubbles and Cielo, has filed for bankruptcy protection after closing more than 80 locations across the country in March, the Washington (D.C.) Business Journal reported. The company and related entities, including Creative Hairdressers Inc., filed for chapter 11 in the U.S. Bankruptcy Court in Greenbelt, Md., on Thursday. In court filings, the company listed less than $10 million in assets and between $10 million and $50 million in liabilities. The company is an apparent victim of the coronavirus pandemic, which forced it to shutter many of its locations. Coronavirus notices posted March 31 to the company's Hair Cuttery and Bubbles websites indicate the chains had hoped to reopen April 1, but "unfortunately, that will not be a reality." "Creative Hairdressers has been searching for a new financial partner for some time," according to a company statement. "The impact of the coronavirus on the business accelerated this process and is a strategic move to ensure the health and vitality of our company in the future." The bankruptcy filing also follows a pair of class-action lawsuits from a group of stylists against the company in U.S. District Court. The lawsuits, one filed April 7 in the District of New Jersey and the other filed April 20 in the Florida Middle District Court, claim the company violated fair wages laws because it didn't pay stylists and employees for the pay period due April 7. That pay period included the span between March 15 and March 21, when Ratner closed all of its retail operations, according to one of the lawsuits.
