Quiz Clothing is rumoured to be close to administration according to reports in the papers that cites the source as the Telegraph. I must admit I cannot find such an article except this one.
Anyway, The fast fashion retailer has apparently filed a notice of intention to appoint administrators. It should be borne in mind that this is often a protective measure which gives the company breathing space, initially for 10 days, to put together a rescue plan. It has been reported that funds are looking at injecting it with new capital.
Quiz currently has 40 stores across the UK, including in London and Manchester. The company also employs around 1000 people.
The company in a statement said it had disappointing sales during the Christmas trading period and blamed labour policies that have pushed up their costs.
The Sun reported that a spokesman for the company had said that all Quiz Shops continue to remain open.
Written ByRobert Moore
Marketing Manager
Rob has over two decades of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.
Rob is now working with the Board at RMT to develop strategic marketing programmes to support the business plan and drive more company rescues.
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