A UK high street fashion chain has crashed into administration, with all 40 of its stores now facing potential closure. The full extent of the financial crisis at Glasgow-founded Quiz Clothing has been revealed in newly published administrators’ reports, as the countdown begins to a decision on the future of the business.
The companies behind the retailer — Orion Retail Limited, Tarak International Limited and Zandra Systems Limited — entered administration in February and are now under the control of Interpath. The chain, which has traded for 33 years, operates 40 stores across the UK and seven concessions in Ireland, employing around 565 staff. All locations are now at risk if a rescue deal cannot be secured.
At the point of…