The UK fashion chain Quiz entered administration last week and closed its online store, but there are still 40 branches across the UK that remain open for business with clearance discounts.
A major UK fashion retailer will NOT accept gift cards after collapsing into administration and cutting 109 positions, with Quiz shuttering last week and closing its online platform, though customers can still purchase remaining inventory with extra reductions.
The company entered administration on February 5 facing tough trading circumstances, resulting in over 100 redundancies. Around 40 Quiz outlets remain operational nationwide, managed by Interpath administrators.
However, customers have been informed the brand will be “unable to honour” gift cards and credit notes. Speaking about consumers’ entitlements regarding gift vouchers previously, BBC and ITV personality Martin Lewis stated: “If you’ve got gift vouchers or cards, use them as soon as possible in case the store collapses.
“You may think that’s a long shot, but a long list of firms have gone into administration in the past few years, including Wilko, Made.com, Joules, Missguided, Debenhams and House of Fraser.
“When firms go into administration, it’s perfectly legal for them to stop accepting gift vouchers, rendering them as worthless as the plastic or paper they’re printed on.”, reports Birmingham Live.
“When this happens, the firm no longer exists in its previous form, so it doesn’t have to fulfil all its promises, such as honouring gift cards.
“A gift card is simply a promise that allows you to spend a certain amount in a store or on a website. Under insolvency law, it’s up to the administrator whether to accept vouchers. In many cases, administrators stop accepting them.”
Alistair McAlinden, head of Interpath in Scotland and joint administrator, revealed on Thursday that the stores would roll out further reductions on leftover stock.
“Since our appointment on 5 February, trading across the Quiz store portfolio has been extremely positive,” he said.
“We’d like to advise customers that all 40 stores remain open, and we will now be commencing additional clearance discounts across all remaining stock.”
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