Fashion chain Quiz has confirmed it is entering administration, putting 44 shops across the UK and approximately 1,000 jobs at risk. According to The Telegraph, the retailer has filed a notice of intention to appoint administrators.
Quiz’s website lists its 44 branches in various locations throughout the UK, including shops in London, Birmingham and Manchester alongside 41 additional concessions. Just days ago, Quiz had announced it was considering several options to secure its future following “disappointing” Christmas trading.
If this goes ahead, it would represent the third time in six years that Quiz has entered administration. The founding Ramzan family had previously put the business into administration less than twelve months ago, resulting in 23 shop closures, before buying back the remaining assets through a pre-pack arrangement.
Quiz also closed 11 of its branches in 2020, attributing its troubles to coronavirus lockdowns. In recent years, the retailer has been struggling with increased employer National Insurance contributions, alongside rising minimum wage and energy costs.
A company spokesperson said: “Like many other high street retailers, we have faced significant headwinds over the past 12 months, including the impact of fragile consumer confidence and a significant increase in business rates and employer costs. While we continue to explore the options available to us, we have today filed Notices of Intention to Appoint Administrators which will give us the time we need to try and secure a positive outcome.”
