Regis Implements Various Actions To Mitigate COVID-19 Impact - Quick Facts

(RTTNews) - Haircare company Regis Corp. (RGS) announced Thursday that it has, over the last few weeks, taken various actions to mitigate the effect on its customers, franchisees, and corporate business operations from the national emergency that has arisen as a result of the coronavirus (COVID-19).

Regis has temporarily suspended operations in certain areas as required by government mandate and has been adjusting days of service or reducing hours of operation at select company-owned salon locations.

Online check-in has been encouraged and utilized in order to reduce the number of customers in the waiting area. It has also implemented an increased focus on cleanliness and sanitization. It has undertaken close coordination of activities and risk mitigation efforts with all franchisees.

Financially, Regis has drawn an additional $183 million from its current committed credit facility as a precautionary measure in order to increase its cash position and preserve financial flexibility in light of the current uncertainty in the global economy.

Regis has also temporarily suspended the collection of ad fund fees from its franchisees from March 1st through June 30th of this year. It has requested that all non-essential personnel at their office locations work to remotely.