Hair Cuttery Parent Company Seeks Injunction Against Competitor Regis Corporation For Raiding Key Employees Because Of Declining Stock Values And Desperation
Hair Cuttery will not stand for predatory behavior by a corporation and will fight for its employees
VIENNA, Va., Oct. 6, 2015 /PRNewswire/ -- In a lawsuit filed Monday in the Circuit Court for Fairfax County, Virginia, Hair Cuttery and its parent company Ratner accuses Regis Corporation ("Regis") and a former Ratner employee, Bobby Brown, of unethically raiding high-level Ratner employees in an attempt to steal Ratner's trade secrets, mimic its family-based culture, and save Regis from stock values that have been in a steep decline for years.
Hair Cuttery is one of the oldest family-owned retail businesses in the Washington, D.C. area. "Regis has embarked on a desperate campaign to raid key Hair Cuttery personnel that we have built and created over decades," said co-founder and CEO Dennis Ratner. "Just because Regis is a huge publicly-traded corporation dominated by hedge funds doesn't mean it can raid a family business that prides itself first and foremost on its culture and employees – not its stock price," said Co-Founder and CEO Dennis Ratner.
During a national telephonic press conference held today, Susan Gustafson, President of Ratner Companies, described the core allegations in the case filed against Regis succinctly:
"Instead of competing on the same playing field, they are raiding and stealing from our family of employees through questionable promises and tactics, and attacking a well-established local company," Gustafson said. She continued, stating: "Hair Cuttery focuses on personal relationships with our employees and our customers, and operates each salon like a family business. We will take any measure necessary to protect those relationships."
Hair Cuttery began with a single beauty salon opened by Dennis Ratner and his then-wife Ann, in Springfield, Virginia in 1974. Now 41 years later, Ratner has grown to own and operate nearly 1,000 salons in sixteen states, with locations in the East Coast, the Midwest and the Mid-Atlantic region. The Ratners, both of whom are licensed hair stylists themselves, have not accepted outside funding once, and they do not permit independent franchisee owners to run their salons. Instead they grew their business the old fashioned way – one salon at a time.
Ratner stated, "We are a family business and we will fight for our employees and for our company." He added, "By filing this suit we are taking appropriate measures to protect the relationships and family values we have always respected here at Hair Cuttery."
Hair Cuttery's suit is primarily based on Regis's campaign to target and convince key Ratner managers, such as Bobby Brown named in the suit, in Ratner's most lucrative markets to quit their jobs and work for Regis while making use of confidential information obtained during their employment by Ratner. Regis has disregarded restrictive contracts in place forbidding them from working for a competitor such as Regis
This is in reference to case number 2015-13150, Ratner Companies, L.C. v. Bobby Brown and Regis Corporation, which was filed yesterday in the Circuit Court for Fairfax County, Virginia.
About Hair Cuttery
Founded in 1974, Hair Cuttery is the largest family owned and operated chain of hair salons in the country, with nearly 900 salons. The original Ratner Companies brand, Hair Cuttery is the largest division of our continually growing company and is still lead by Dennis Ratner and the Ratner Family. It is a company built on dreams and talent, where it truly is all about the people. Hair Cuttery is committed to achieving extraordinary results through its people by living within its values and financial resources to WOW and delight its associates and clients and have fun doing it. Visit http://www.haircuttery.com.
SOURCE Hair Cuttery
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