Fashion large faces complete collapse with all 40 shops susceptible to closing inside weeks
High street fashion chain Quiz faces a complete collapse as its final 40 stores risk permanent closure by May unless a last-minute rescue deal saves the brand
The remaining 40 Quiz stores are under threat of closure(Image: Quiz)
High street stalwart Quiz is teetering on the edge of a total collapse, with reports suggesting every single one of its remaining stores could be shuttered within weeks. The fashion giant, which has been a staple of British shopping centres for years, is locked in a race against time to secure a rescue deal before the end of April.
If a buyer doesn’t emerge by the deadline, the shutters could come down for good on the brand’s final 40 locations.
The retailer officially collapsed into administration back in February, a move that immediately triggered more than 100 redundancies. The situation has now reached a critical phase.
According to Retail Week, administrators at Interpath are preparing to review the viability of the remaining estate.
Insiders suggest that if the phone doesn’t ring with a serious offer by the end of the month, the business may be forced into a total wind-up, leading to further mass job losses.
It is still business as usual across the remaining 40 stores, but the atmosphere on the shop floor is one of a final fire sale. Shoppers are being lured in with massive clearance discounts ranging from 40% to 70% off.
However, customers are being urged to shop with caution. The brand has updated its returns policy to reflect its precarious position as no cash or credit card refunds will be issued and returns will only be accepted if the merchandise is found to be faulty.
Alistair McAlinden, head of Interpath in Scotland and joint administrator, noted that the current focus is on shifting stock during the holiday rush.
He said: “As we head into the busy Easter trading period, there are bargains to be had in-store for shoppers, with further discounts available on all remaining stock, including some new stock lines added.”
The collapse follows a disappointing festive period which left the company’s finances in tatters. Despite attempts to keep the ship afloat, Interpath confirmed that the board ran out of options.
The firm said: “The directors worked tirelessly to explore options to safeguard the future of Quiz, including efforts to source funding.
“However, with no solvent solutions available, they took the difficult decision to place these companies into insolvency.”
While the hope remains that a white knight investor will step in to save the brand name, the clock is officially ticking for the 40 stores left on the map.
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