Hundreds of additional street jobs will be lost this week after the Clothing quiz, the fashionable manner in difficulty, called administrators.
Sky News understands that the company, which has been registered until recently on the London Stock Exchange, will see the closure of 23 of its stores, with around 200 employees who should be redundant.
Quiz, who is chaired by the former JD sports chief, Peter Cowgill, appointed the insolvency practitioner Teneo as a administrator of Zandra Retail, who operates the autonomous quiz stores in the United Kingdom and Ireland , after weeks of discussions on a rescue agreement.
The transaction should be structured as a pre-pack administration, 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 negotiate from 42 points of sale previously occupied by Zandra.
A rival bidder said he understood that Teneo and buyers had worked to preserve as many jobs as possible, the majority understood to have been recovered.
Sky News reported last month that quiz clothes were negotiated at around 60 autonomous stores and dozens of additional concessions, employing around 1,500 people.
Quiz online activities, concessions and international operations are operated by other group subsidiaries and are not affected by this ad.
Sheraz Ramzan, CEO of Quiz, said in a press release published at Sky News: “The Council made the decision difficult to appoint the administrators to Zandra Retail Limited in the light of the difficult negotiation conditions which had an impact on the performance of band.
“We are deeply sorry for people affected by store closings, including our retail colleagues.
“However, this decision will put the company in a more sustainable basis for the future and will protect several hundred jobs accordingly.”
The main lender of Quiz, HSBC, had recently hired restructuring experts at Interpath to advise him.
Quiz problems are involved in the midst of growing financial pressure on retailers, many of whom faced a deepening challenge in 2025 due to imminent hikes with national employers’ insurance contributions.
In recent weeks, Sky News has revealed that: Wh Smith was in talks to sell all its street channel, 500 stores and around 5,000 employees; The Poundland parent hired advisers to assess the options of the main reduction chain; Lakeland, the family retailer of kitchen utensils, has been sold; And that the original factory store was sold in Modella Capital.
Gavin Maher, joint administrator, said: “Although the sale has led to the transfer of a certain number of jobs, it was necessary to make redundancies.
“We appreciate that it is a difficult and uncertain moment for all those involved and communicate appropriately with all employees, customers and stakeholders.”