Hundreds more high street jobs will be lost this week after Quiz Clothing, the troubled fashion retailer, called in administrators.
Sky News understands that the company, which was listed until recently on the London Stock Exchange, will see the closure of 23 of its shops, with about 200 employees expected to be made redundant.
Quiz, which is chaired by the former JD Sports chief Peter Cowgill, has appointed the insolvency practitioner Teneo as administrator to Zandra Retail, which operates Quiz's standalone stores in the UK and Ireland, after weeks of talks about a rescue deal.
The transaction is expected to be structured as a pre-pack administration, with the remaining assets being acquired by Orion Retail, a subsidiary of the company controlled by the founding Ramzan family.
Orion will hold the right to trade from 42 outlets previously occupied by Zandra.
One rival bidder said they understood that Teneo and the buyers had worked to preserve as many jobs as possible, with the majority understood to have been salvaged.
Sky News reported last month that Quiz Clothing traded from roughly 60 standalone stores and dozens more concessions, employing about 1,500 people.
QUIZ's online business, concessions and international operations are operated by other Group subsidiaries and are unaffected by this announcement.
Sheraz Ramzan, CEO of Quiz, said in a statement issued to Sky News: "The board took the difficult decision to appoint administrators to Zandra Retail Limited in light of the continuing challenging trading conditions impacting the Group's performance.
"We are deeply sorry to those affected by the store closures, including our retail colleagues.
"However, this decision will put the business in a more sustainable footing for the future and protect several hundred jobs as a result."
Quiz's main lender, HSBC, had recently hired restructuring experts at Interpath to advise it.
Quiz's troubles come amid growing financial pressure on retailers, many of which are facing a deepening challenge in 2025 as a result of looming hikes to employers' national insurance contributions.
In recent weeks, Sky News has revealed that: WH Smith was in talks to sell its entire high street chain, numbering 500 stores and about 5,000 employees; Poundland's parent has hired advisers to assess options for the leading discount chain; Lakeland, the family-owned kitchenware retailer, has been put up for sale; and that The Original Factory Shop was being sold to Modella Capital.
Gavin Maher, Joint Administrator, said: "Although the sale has resulted in the transfer of a number of jobs, it has been necessary to make redundancies.
"We appreciate that this is a difficult and uncertain time for all involved and are communicating appropriately with all employees, customers and stakeholders."
(c) Sky News 2025: 200 jobs lost as Quiz Clothing calls in administrators
