We regret to inform you that we have had to close one of your salons and the second one is set to close this week. The business while making progress did not met the objectives in enough time. We had to shut them down due to an inability to cover the payroll expenses. The only way to met the objectives currently is an additional capital contribution. We do not have any time to spare to make those arrangements though.
If you would like to discuss putting in additional capital to keep the businesses open, please let us know. Otherwise we are going to prepare a sale of one of the businesses in order to try to reopen the other one. We are working on a sales package now for your Oceanside location.