Popular fashion retailer Quiz is likely to close all of it high street stores, after it’s reportedly set to call in administrators. The news leaves the fate of 1,500 employees, 60 stores, and dozens more concessions and franchises hanging in the balance.
Quiz, headquartered in Glasgow, follows WH Smith’s plans to sell its high street business, and Sainsbury’s cuts across various departments. The brand has been a familiar name for over 30 years, beginning with one store in Glasgow and quickly expanding in Scotland and the rest of the UK.
In 2017, it was valued at £245 million, however during the pandemic Quiz struggled, seeing a small number of jobs cut in 2020. Sky News reported that Quiz is “lining up Teneo as administrator in a move expected to take place before the end of next week”.
The rumoured pre-pack insolvency deal would be intended to enable the founders to take control of a restructured business with substantially fewer stores and employees. In Bristol, Quiz operates through a New Look concession in Cabot Circus, as well as having a standalone store in Cribbs Causeway.
There are a number of Quiz stores and concessions throughout the south west:
- Bristol (New Look Concession) Cabot Circus
- Bristol Cribbs Causeway
- Exeter Princeshay Shopping Centre
- Newton Abbot (Austins Concession)
- Plymouth Drakes Circus Shopping Centre
It was also shared by Sky last month that Quiz’s main lender, HSBC, had hired restructuring expert. A solvent restructuring of the business is reported to have been ruled out.