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PRIVACY
Retail & Consumer

Quiz enters administration as 23 stores close putting 200 jobs at risk – full list of shops closing

The move comes after the retailer said in January that it was seeking emergency funding as it was at risk of running out of cash by the end of March

Quiz is a national fast fashion chain

Quiz, the beleaguered fashion retailer, has been forced to close 23 stores following its slide into administration – putting approximately 200 jobs in jeopardy.

The closures come despite the brand being rescued through a pre-pack administration deal by Orion, a subsidiary of the Ramzan family that founded the company.

In the previous month, Quiz had been actively seeking emergency funding to avoid running out of money by March.

The company appointed Teneo as the insolvency practitioner for Zandra, its subsidiary that operates its º£½ÇÊÓÆµ and Ireland stores.

Through the administration process, Orion acquired a selection of assets, including the Quiz brand and 42 stores, which the retailer says will preserve the majority of its workforce. However, 23 "loss-making or unsustainable" stores were not part of the acquisition, affecting around 200 employees, and these have now permanently ceased trading.

Sheraz Ramzan, chief executive of Quiz, commented on the situation: "The board took the difficult decision to appoint administrators to Zandra Retail Limited in light of the continuing challenging trading conditions impacting the group's performance."

He added, "We are deeply sorry to those affected by the store closures, including our retail colleagues."

Ramzan emphasised that the move was necessary to place the business on a more sustainable path and safeguard several hundred jobs.