Celebrity-backed nail salon chain Glosslab down to two stores in NYC

A top investor in Glosslab says he is “no longer associated” with the embattled nail salon — even as it continues to shutter stores across the Big Apple, The Post has learned.The New York-based company — which is imploding following a bout of wild overexpansion backed by celebrity investors including Olivia Culpo, ex-Tinder CEO Sean Rad and The Chainsmokers — is now operating just two salons in Manhattan, down from six earlier this month, according to its website.One crucial investor who was burned is Joshua Coba, co-founder of European Wax Center — a nearly $1 billion publicly held company with 1,000 locations. Coba secured the franchise rights for Glosslab in south Florida where there are five salons.Coba — who was supposed to oversee the company’s franchise development nationwide, according to press releases — also lent the company $5 million, but Glosslab has recently defaulted on the loan, sources told The Post.“I’m no longer associated with them as a franchisee or in any respect,” Coba told The Post.“I own and operate the Florida locations and the Closter, NJ store.”Coba added that he plans to hold onto those businesses, but he also said he doesn’t have “a specific plan at this time regarding [his investment].

I don’t have much to say at this time.I’m still working through that.”Glosslab did not respond for comment about Coba.Coba’s Glosslab salon in Closter, NJ is actively hiring, according to posts on Indeed.com.In Manhattan, two locations in the trendy Flatiron and Tribeca neighborhoods remain open.

That’s down from a half dozen salons earlier this month, including locations at 860 Seventh Ave.and at 1206 Third Ave.The company allegedly stiffed its landlords at a number of locations, as The Post previously reported.

Chief Executive Rachel Glass, a former hedge fund executive who founded the membership-based chain in 2018, told The Post last month the company is “currently moving to a franchise model and work...