UK trend large might shut all 40 excessive avenue shops after administration battle
Quiz fell into administration in February, resulting in more than 100 redundancies after a prolonged struggle on the high street, with all remaining stores facing closure unless a buyer is found
The clothing shop could disappear from the high street.(Image: Getty)
A British fashion retailer has tumbled into administration, with its surviving shops facing immediate closure unless a rescue package is struck before the month’s end. Quiz entered administration in February, leading to over 100 job cuts following a lengthy battle on the high street.
Administrators Interpath have revealed they will evaluate whether to maintain the 40 remaining stores if no purchasers come forward by April’s conclusion, according to Retail Week. The possibilities being weighed up include further shop shutdowns, more redundancies, or completely shutting down the operation, a source informed the publication.
Quiz’s surviving outlets have been running clearance sales with reductions of 40% to 70% off standard prices. Shoppers can only return goods if they prove to be defective, with no cash or credit card refunds on offer.
Alistair McAlinden, head of Interpath in Scotland and joint administrator, said Quiz is expecting a busy Easter period as bargain seekers flock to the stores, reports the Express.
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.”
It said: “The directors worked tirelessly to explore options to safeguard the future of Quiz, including efforts to source funding.”
Interpath had earlier observed that Quiz “experienced challenging trading conditions”, with a disappointing Christmas period delivering the knockout punch.
It comes 24 hours after fashion accessories retailer Claire’s closed all its 154 UK and Ireland stores with the loss of around 1,300 jobs, administrators have said. Administrators Kroll confirmed the news and said staff have been “notified of redundancy”. However, Claire’s European stores will remain open.
The move also does not affect the retailer’s 356 concessions, including many in Asda stores, and its head office. It comes after private equity owner Modella Capital hired Kroll to oversee the administration earlier this year.
A spokesman for Kroll said: “As of April 27, all Claire’s standalone stores in UK and Ireland have ceased trading. All store employees have been advised of redundancy.
“We understand an interested party is in discussion with a number of landlords with a view to taking new leases for some of the sites.”
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