High street fashion chain ‘on the brink’ of administration putting future of 60 stores in doubt
High street fashion chain ‘on the brink’ of administration putting future of 60 stores in doubt
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A HIGH STREET fashion chain is on the brink of collapse leaving the future of some stores and up to one thousand jobs at risk. Fashion retailer Quiz Clothing is on the brink of collapse, just days after its shares were removed from the London Stock Exchange.
The company, which has struggled in recent years, is expected to appoint administrators imminently. Sky News reports that Teneo has been lined up to handle the administration, which could occur as early as next week. The move is expected to involve a pre-pack administration deal, allowing the chain's founders to regain control of a slimmed-down version of the business.