Quiz Clothing on the brink of collapse as administration looms, reports say

According to Sky News, the company, chaired by former JD Sports chief Peter Cowgill, is preparing to appoint Teneo as administrators, with the move expected before the end of next week. The pre-pack insolvency process would enable the founding Ramzan family to take control of a restructured business with significantly fewer stores and employees.

Quiz currently operates approximately 60 standalone stores and numerous concessions, employing around 1,500 people.

The company's financial woes have intensified in recent months. Last month, Sky News reported that HSBC, Quiz's main lender, had engaged restructuring experts from Interpath to advise on the retailer's future.

A solvent restructuring is now considered unviable, though the exact timing of the insolvency filing remains uncertain. The collapse comes as the retail sector faces mounting challenges in 2025, including looming increases in employer national insurance contributions.

Quiz's struggles come amidst a wider crisis in the UK retail sector. Recently, Poundland's parent company has hired advisers to review options, Lakeland is up for sale, and The Original Factory Shop is close to being sold to Baaj Capital.