Around 200 jobs are under threat as high street fashion retailer Quiz Clothing called in administrators.
The company, which recently saw its shares removed from the London Stock Exchange, may be forced to shut down 23 of its branches.
One has already ceased trading in Peterborough, Cambridgeshire, much to the disappointment of local shoppers.
According to the Peterborough Telegraph, a clearance sale launched last week at the store Queensgate Shopping Centre store before it locked its doors for good on Tuesday, February 18.
Posting on Facebook, one disappointed customer said: “There’s nothing in Peterborough Shopping Centre now…might as well pull it down.” Another branded that closure “another nail in the coffin for Queensgate.”
The retailer, which sells its products through standalone stores and major high-street shops like New Look and Debenhams, is likely to utilise a pre-pack administration deal, enabling the founders to regain control of a streamlined version of the business.
Orion Retail, a subsidiary of Zandra – a company controlled by the founding Ramzan family, will acquire the remaining assets.
According to The Sun, Orion will then take over 42 outlets previously occupied by Zandra. Meanwhile, Teneo, an insolvency practitioner, has been appointed as administrator.
Quiz currently employs around 1,500 people across 60 UK stores. However, Sky News reports that 200 of them could face redundancy.
Sheraz Ramzan, CEO of QUIZ, said: “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.”
The brand has 59 remaining sites in the UK following the loss of the Peterborough branch, though the exact location of those at risk of closing remains uncertain.
Quiz stores at risk of closure in the UK
- Athlone
- Bracknell
- Brighton
- Basingstoke
- Belfast Castlecourt
- Birmingham Merryhill
- Bristol Cribbs Causeway
- Carlisle
- Castleford Junction 32
- Craigavon
- Derby
- Derry
- Dundee
- Dublin Liffey Valley
- Doncaster
- Eastbourne
- Enniskillen
- Exeter
- Falkirk
- Fareham
- Glasgow Buchanan Galleries
- Glasgow Braehead
- Glasgow Clydebank
- Glasgow Silverburn
- Grimsby
- Glasgow St Enochs
- Glasgow Fort
- Hanley
- Hull
- Irvine
- Leeds White Rose
- Livingston
- Leicester
- Liverpool One
- Milton Keynes
- Mansfield
- Maidstone
- Manchester Arndale
- Motherwell
- Newbridge
- Newtownabbey
- Newry
- Northampton
- Norwich, Castle Mall
- Newcastle Metro
- Plymouth
- Portsmouth
- Preston
- Romford
- Sligo
- Stirling
- Swansea
- Southampton
- Sheffield Meadowhall
- Telford
- Tallaght
- Thurrock Lakeside
- Warrington
- Watford
