Quiz Clothing creditors face £16.7m deficit following administration

Creditors of Orion Retail Limited, part of the Quiz Clothing entity, are set to be left with an estimated £16.7 million deficit after the fashion retailer went into administration in February 2026. 

The figure, which emerged through statement-of-affairs filings lodged at Companies House in June, gives creditors, including suppliers, landlords and other counterparties, a clearer measure of the losses from the collapse of the Scotland-founded chain.

Orion Retail Limited was one of three entities, alongside Tarak International Limited and Zandra Systems Limited, that traded together as Quiz. Interpath had been appointed as the joint administrators for all three entities on 5 February 2026.

The company’s statement of affairs, shows that total estimated assets available for creditors are set at £2 million against liabilities exceeding £18.7 million.

The filings explained that payments of £306,552 to employees and £731,213 owed to HMRC, were treated as preferential claims and have been settled, leaving limited funds for other creditors.

The estimated shortfall for creditors is £16.7 million, while shareholders are not expected to receive any return.

Of these, £1.9m are owed to unsecured employee creditors, while £9.8 million are owed to unsecured trade creditors.

Secured creditors are also expected to face significant deficits with property and equipment assets realising an estimated value of £20,000, instead of a book value of £2.2 million. Fixed charge holders, meanwhile, are owed an estimated £6 million.

When administration began, Quiz had 40 UK stores and seven concessions in the Republic of Ireland, with around 565 staff employed across the business.

As of the 20 June, all Quiz stores had closed. 

The online store ceased trading on the 5 February, with the website stating that "all remaining stock must be cleared" and all sales were final.

The administration resulted in 109 redundancies across head office and warehouse roles, with further job losses following as stores have shut.

It marked Quiz's second administration in just over a year, after the company collapsed in February 2025 and was subsequently acquired in a pre-pack deal by a subsidiary of its founding Ramzan family.

Quiz Clothing concessions operating within New Look and Matalan stores in the UK are not part of the administration process and continue to trade as normal, according to earlier administrator updates.

Geoff Jacobs, Managing Director at Interpath and joint administrator, said in May: "We'd once again like to say a huge thank you to Quiz staff who have shown such dedication and professionalism under difficult circumstances."