High street retailer Quiz has closed 23 shops, which has put around 200 jobs at risk. The fashion chain had fallen into administration and will still close the stores, despite the chain being bought in a pre-pack administration deal by a subsidiary of the founding Ramzan family.
Quiz had previously said it could run out of money by March and that it hired insolvency practitioner Teneo as administrator to Zandra, its subsidiary business which runs its shops in the UK and Ireland. Administrators struck a deal for Orion, a subsidiary company run by the Ramzan family, to buy a raft of assets, including the Quiz brand and 42 of its shops.
Sheraz Ramzan, chief executive 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. “We are deeply sorry to those affected by the store closures, including our retail colleagues.
“However, this decision will put the business on a more sustainable footing for the future and protect several hundred jobs as a result.”. Quiz reported having a “difficult” Christmas period and the latest raft of shops is set to join the 13,000 that closed in the UK last year.
Athlone - Athlone Town Centre Shopping Centre. Brighton - Churchill Square. Bristol - Cribbs Causeway. Derry - Richmond Shopping Centre. Doncaster - Frenchgate Centre. Dundee - Overgate. Enniskillen - Erneside Shopping Centre. Exeter - Princesshay Shopping Centre. Falkirk - Howgate Centre.
Fareham - Whiteley Shopping Centre. Glasgow - Forge Shopping Centre. Grimsby - Freshney Place. Liverpool - South John Street. Maidstone - Fremlin Walk. Milton Keynes - Silbury Arcade. Motherwell - Brandon Parade South. Newbridge - Whitewater Shopping Centre. Peterborough - Queensgate Shopping Centre.
