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Fantastic Sams Sold in Bankruptcy

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Anaheim, California--A California bankruptcy court has cleared the way for a group of investors to acquire hair-care franchise Fantastic Sams for just over $17 million from its debt-laden parent Opal Concepts Inc. Cheveux Acquisition, a group formed by four entrepreneurs who own the New England franchise rights for Fantastic Sams, won the bankruptcy auction over another franchisee group. -Reuters