Quiz reportedly mulling widespread store closures

Fast fashion retailer Quiz is believed to be considering closing up to a third of its store estate as it continues to seek ways to cut costs.

This is according to The Telegraph, which reported that Quiz had enlisted advisory firm Teneo to explore its options, with a pre-pack administration or company voluntary arrangement (CVA) said to be among considerations.

A source for the media outlet was quoted as saying “nothing is being ruled out”, however, with a decision on the matter anticipated for the coming weeks.

News that Quiz was engaging with advisors broke in early December 2024, following a sharp decline in revenue for its key trading month of November.

This, however, was only one period in a long line of reports in which financials for the company disappointed, emphasising the “challenging market conditions” that Quiz was currently tackling.

By the end of December, Quiz had proposed an AIM delisting, with a potential re-registration as a private business deemed to be more cost effective and less burdensome than its current setup.

Following a general meeting in January, Quiz shareholders voted in favour of the proposal, with the delisting expected to take place 23 January 2025.