Hundreds of high street jobs to be axed after Quiz appoints administrators

Struggling high street retailer Quiz Clothing is set to axe around 200 jobs this week after it called in administrators to rescue the business. However, the majority of jobs will be saved as part of a pre-packed deal with the founding Ramzan family.

Quiz, which delisted from the stock market in January, is set to close 23 of its shops, with approximately 200 employees expected to be laid off. It currently operates 62 UK stores and 47 concessions, employing approximately 1,500 people.

Late last year, the retailer warned that it was set to run out of funds in early 2025. Last month, it was rumoured that it was finalising rescue plans, which were likely to trigger hundreds of job losses.

Quiz has now called upon Teneo to lead a pre-pack insolvency with Zandra Retail, which operates Quiz's standalone stores in the UK and Ireland. The remaining assets will be acquired by Orion Retail, a subsidiary of the company controlled by the founding Ramzan family. Orion will hold the right to trade from 42 outlets previously occupied by Zandra.

This transaction enables the Ramzan family to take control of a restructured business with substantially fewer stores and employees.

Sheraz Ramzan, CEO of Quiz, said in a statement: "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 in a more sustainable footing for the future and protect several hundred jobs as a result."

The retailer's financial status began to unravel in December when it warned it could need urgent funding following poor sales. It said a year-on-year slump in in-store traffic in November led to a "significant reduction in revenues", which were "only modestly" offset by spending over the Black Friday weekend.

In its latest update published on 27 December, Quiz revealed its pre-tax losses had risen significantly, from £1.5 million to £4.7 million, for the six months ending 30 September. Sales dropped 7.5% to £39.1 million, due to a "marked decline in traffic both online and in-store" last month.

The full list of shops which have now shut their doors:

• 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, Princeshay shopping centre
• Falkirk, Howgate centre
• Fareham, Whitley 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
• Preston, Friargate Walk
• Southampton, Westquay Shopping Parade
• Swansea, Queens Arcade
• Tallaght, The Square
• Telford, Telford shopping centre