Fashion chain Quiz on verge of administration – reports

The troubled retail group has been scrambling to secure its future in recent weeks.

Henry Saker-Clark
Tuesday 28 January 2025 11:29 EST
Quiz is reported to be lining up an administrator (Alan King/Alamy/PA)
Quiz is reported to be lining up an administrator (Alan King/Alamy/PA)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Fashion chain Quiz is on the brink of falling into administration, according to reports.

The troubled retail group has been scrambling to secure its future in recent weeks after warning it could run out of cash in the first few months of 2025.

Sky News reported on Tuesday that the business, which employs around 900 people, is lining up financial services firm Teneo as administrator.

Quiz declined to comment.

The company, which runs 62 stores and 47 concessions across the UK, is expected to enter administration by the end of next week.

It is reported this is expected to result in a pre-pack insolvency deal which would allow the firm’s founders, the Ramzan family, to take control of the business.

However, the broadcaster reported this would involve a major restructuring process which would shutter stores and cut jobs.

It follows reports last week the retailer is preparing to close up to a third of its stores to help slash costs.

The company has looked towards a restructuring process after struggling with efforts to strike a solvent sale deal.

Last week, Quiz dropped its listing on London’s AIM stock market in order to save itself cash.

Quiz said sales had been “disappointing” in the Christmas trading period and that its cash reserves are “less than previously anticipated”.

It said the poor trading was partly because of the “impact of inflationary pressures on consumer confidence and spending”.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in