Major UK Fashion Chain Enters Administration, Closes Website
A significant UK fashion chain has entered administration, resulting in the closure of its website and the loss of 109 jobs. Quiz, which has been operational since 1993, has struggled with rising costs and disappointing sales during the crucial Christmas trading period.
Quiz Fashion Chain Enters Administration
With its headquarters in Glasgow and a warehouse in Lanarkshire, Quiz operated 40 stores across the UK and seven concessions in Ireland. The company cited several factors contributing to its downfall, including:
- Rising employer National Insurance contributions
- Increased minimum wage requirements
- Higher energy costs
- Fragile consumer confidence
- Unfavorable business rates
Administration Details
Last week, Quiz filed a notice of intention to appoint administrators. On February 5, the company confirmed its website went offline, advising customers that any unshipped online orders will be canceled. Refunds are also not being processed.
Alistair McAlinden and Geoff Jacobs from Interpath have been appointed as joint administrators. Quiz has faced significant challenges recently, leading to the decision to cease operations.
A company spokesperson stated: “We have faced significant headwinds over the past 12 months and continue to explore options available to us.” The spokesperson remarked that Quiz had seen disappointing sales results during the Christmas period, with cash reserves lower than expected.
Previously, Quiz had delisted from London’s AIM stock market to conserve cash. The brand’s issues are reflective of wider struggles within the retail sector, particularly for high street retailers navigating inflation and changing consumer dynamics.
As the UK fashion industry continues to face challenges, the collapse of Quiz underscores the difficulties many retailers are encountering in this economic climate.
