Troubled high street fashion chain Quiz Clothing is set to close more than a third of its branches after crashing into insolvency. The company, known for affordable partywear recently called in administrators after struggling to turn around a decline in business the last few years.
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The chain counted around 65 standalone stores and dozens of concession outlets, employing around 1,500 people. A deal to rescue the brand will reportedly see 23 of those stores shuttered, with 200 employees laid off. The remaining 42 stores are to be bought by a subsidiary company run by the founding Quiz family.
This will result in around 531 employees being moved to the company, Orion, as first reported by Sky News. Quiz is said to have struggled with a post-pandemic shift towards more casual clothing, as well as wider challenges to the high street. CEO Sheraz Ramzan said insolvency practitioners Teneo were called in due to ‘continuing challenging trading conditions impacting the group’s performance’.
Meanwhile, New Look announced it will wind down its entire business in the Republic of Ireland due to ‘challenging market conditions’. This means 26 stores will close, making 347 workers redundant. Get in touch with our news team by emailing us at webnews@metro.co.uk.
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