Michael D. Sullivan, former president of Merry-Go-Round Enterprises Inc., has bought a major ownership interest in and signed on as chairman of a fledgling hair-replacement business based in Montgomery County.
The company is Waye Laboratories Inc., described in advertisements as offering "non-surgical hair reconstruction." Using the name Waye Images, the company has one office in Rockville, an employee said.
But it plans to grow. Waye intends to open offices in many states and challenge Hair Club For Men and other hair-restoration companies, said Mark Millman, one of Mr. Sullivan's friends and president of Millman Search Group Inc.
Mr. Sullivan "certainly has the clout to do that," Mr. Millman said. "He knows everything there is to know about developing and nurturing a chain."
Waye probably isn't a full-time job for Mr. Sullivan, Mr. Millman said.
"He's just in the very embryonic stages," he added. "They want to take his expertise and develop a chain of national hair-weaving stores."
Mr. Sullivan, 55, and other Waye associates did not return phone calls seeking comment.
Mr. Sullivan resigned from Merry-Go-Round, a national chain of clothing boutiques based in Joppa, in November.
Over 20 years, he helped co-founders Leonard Weinglass and Harold Goldsmith build Merry-Go-Round into a 1,400-store powerhouse.
But results soured two years ago, and the chain entered Chapter 11 bankruptcy proceedings in January 1994.