The Independent reports that troubled fashion retailer Quiz has closed 23 loss-making stores following its entry into administration, jeopardizing around 200 jobs. Despite being acquired in a pre-pack administration by a subsidiary of the founding Ramzan family, Quiz's continuing financial difficulties prompted the closures. The chain had previously sought emergency funding to avert a cash crisis. While the acquisition saves many jobs, the closure of these stores continues to signal a challenging retail environment for Quiz and suggests ongoing vulnerabilities in the high-street fashion sector.
"Quiz has shut 23 loss-making stores across the UK and Ireland, putting around 200 jobs at risk, amidst a challenge for emergency funding to avoid cash shortfalls."
"Despite a pre-pack administration deal to save the company, 23 underperforming stores were closed permanently, making it challenging for many employees."
Collection
[
|
...
]