Trend retailer Quiz on brink of administration

Quiz Clothes, the troubled trend enterprise, is near collapsing into administration days after its shares had been delisted from the London inventory market.

Sky Information has learnt that Quiz, which is chaired by the previous JD Sports activities chief Peter Cowgill, is lining up Teneo as administrator in a transfer anticipated to happen earlier than the top of subsequent week.

The pre-pack insolvency could be supposed to allow the founding Ramzan household to take management of a restructured enterprise with considerably fewer shops and workers.

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Final month, Sky Information reported that Quiz’s major lender, HSBC, had employed restructuring specialists at Interpath to advise it.

A solvent restructuring of the enterprise is now stated to have been successfully dominated out, though one supply stated the timing of an insolvency submitting was nonetheless unclear.

Quiz’s troubles come amid rising monetary strain on retailers, lots of that are going through a deepening problem in 2025 on account of looming hikes to employer’s nationwide insurance coverage.

Within the final 10 days alone, Sky Information has revealed that: Poundland’s mum or dad has employed advisers to evaluate choices for the main low cost chain; Lakeland, the family-owned kitchenware retailer, has been put up on the market; and that The Unique Manufacturing unit Store was on the verge of a sale to household workplace Baaj Capital.

On the weekend, Sky Information additionally revealed that WH Smith was in talks to promote its complete excessive road chain, numbering 500 shops and about 5,000 workers.

Quiz Clothes, Teneo and Interpath all declined to remark.