Business
Fashion Retailer Quiz on Brink of Administration
January 28, 2025
February 20, 2025
By Evans Momodu, City Editor
1 minute read
Updated 11:09 UK(GMT) - February 20, 2025
Quiz Clothing, the struggling fashion retailer, has entered administration, leading to the closure of 23 stores and the loss of approximately 200 jobs due to fashion retail challenges.
The company, which was recently delisted from the London Stock Exchange, has appointed Teneo as administrators for Zandra Retail, the division managing its standalone stores in the UK and Ireland.
After weeks of rescue negotiations, the remaining assets will be acquired through a pre-pack administration deal by Orion Retail, a subsidiary controlled by Quiz’s founding Ramzan family.
While many jobs have been saved, a total workforce of 1,500 employees has been affected by the Quiz Clothing store closures.
The brand previously operated 60 standalone stores along with numerous concessions. However, its online business, concessions, and international operations remain unaffected.
Sheraz Ramzan, CEO of Quiz, acknowledged the difficult decision, citing challenging trading conditions as a key factor in the restructuring move. The brand now faces the challenge of stabilising operations under new ownership while adapting to the evolving retail landscape.
Source: Sky news
