UK high street giant plunges into administration – all shops could close | UK | News
A British fashion retailer has collapsed into administration; Its remaining stores face imminent closure unless a rescue deal is reached before the end of the month. Quiz went into administration in February, resulting in the sacking of more than 100 people following a protracted battle on the high street.
Interpath executives said they would consider whether the 40 surviving stores should continue trading if no buyers arrive by the end of April, according to Retail Week. Options being considered include further store closures, additional job losses or closing the business entirely, a source told the publication.
Quiz’s remaining stores held clearance sales offering 40% to 70% off original prices.
Customers may only return products found to be faulty; Refunds in cash or credit card are not possible.
Alistair McAlinden, chairman and joint director of Interpath in Scotland, said Quiz was expecting a busy Easter period with bargain hunters flocking to stores.
He said: “As we head into the busy Easter trading period, there are bargains in store for shoppers and further discounts are available on all remaining stock, including some new batches of stock being added.”
“Executives have worked tirelessly to explore options to secure the future of Quiz, including efforts to secure financing,” the statement said.
Interpath has previously stated that Quiz was “experiencing challenging trading conditions” and that the gloomy Christmas period proved to be the final blow.
