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     112  0 Kommentare Sortis Holdings Plays Key Role in Rescue of Seattle's Iconic Rudy's Barbershop, Helps Original Founders Regain Control

    Portland, Oregon, May 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sortis Holdings, Inc. (SOHI), a Portland, Oregon-based alternative investment fund manager, has been a key driving force behind the rescue of iconic Seattle-area barbershop, Rudy’s Barbershop. 

    For over a quarter century, Rudy’s has been an important part of Seattle’s charm and soul, thanks to the vision and culture created by its co-founders, Wade Weigel and David Petersen. Rudy’s Barbershop has 25 shops around the United States, with 15 locations specifically in the Puget Sound area. 

    “When we founded Rudy’s Barbershop it was always about more than a haircut. It was a place for creative and social exploration. The spirit of Rudy’s culture, employees, customers, and community is all about having fun, celebrating who you are, and exploring who you could be. These are the parts of Rudy’s I am most excited to reconnect with,” noted Rudy’s co-founder Wade Weigel. 

    Like most small businesses, Rudy’s was not immune to the coronavirus outbreak and was forced to close as part of the country’s lockdown efforts to curtail the virus’s spread. This forced Rudy’s to file for bankruptcy protection in early April 2020.

    Rudy’s co-founders contacted Sortis Holdings, as two distressed equity firms were looking to scoop up the iconic business in bankruptcy proceedings.  

    Sortis’ William “Butch” Bannon and Executive Chairman Paul Brenneke developed a strategy that beat out the two equity firms in bankruptcy court and allowed Rudy’s to once again be under the control of its original co-founders.  

    Rudy’s Barbershop’s immediate goals coming out of bankruptcy this week and looking forward include:

    * To recapitalize the company and get Rudy’s back to business

    * To create a safe environment for our employees and customers to get haircuts

    * To implement a strategic plan focusing on preserving the Rudy’s culture while providing value and quality haircuts in a fun, inclusive environment.

    “What intrigued us most beyond the investment itself was the opportunity to help preserve an iconic Seattle business and the culture it represented,” says Paul Brenneke, Executive Chairman of Sortis Holdings Inc. “It’s these small to mid-sized companies with unique visions and customer experiences that can thrive in a new era of retail post pandemic.”

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    Sortis Holdings Plays Key Role in Rescue of Seattle's Iconic Rudy's Barbershop, Helps Original Founders Regain Control Portland, Oregon, May 29, 2020 (GLOBE NEWSWIRE) - via NEWMEDIAWIRE - Sortis Holdings, Inc. (SOHI), a Portland, Oregon-based alternative investment fund manager, has been a key driving force behind the rescue of iconic Seattle-area barbershop, …