Doncaster branch of clothing store Quiz shut as firm calls in administrators
The Doncaster branch of clothing store Quiz has closed its doors immediately after administrators were called in – with 200 jobs across the country at risk.
The troubled fashion retailer is reported to be closing 23 of its shops – including the branch in the city’s Frenchgate centre.
Quiz, which is chaired by the former JD Sports chief Peter Cowgill, has appointed the insolvency practitioner Teneo as administrator to Zandra Retail, which operates Quiz's standalone stores in the UK and Ireland, after weeks of talks about a rescue deal.
The transaction is expected to be structured as a pre-pack administration, with 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 trade from 42 outlets previously occupied by Zandra.
One rival bidder said they understood that Teneo and the buyers had worked to preserve as many jobs as possible, with the majority understood to have been salvaged.
Sky News reported last month that Quiz Clothing traded from roughly 60 standalone stores and dozens more concessions, employing about 1,500 people.
Quiz's online business, concessions and international operations are operated by other subsidiaries and are unaffected.
Sheraz Ramzan, CEO of Quiz, said: "The board took the difficult decision to appoint administrators to Zandra Retail Limited in light of the continuing challenging trading conditions impacting the Group's performance.
"We are deeply sorry to those affected by the store closures, including our retail colleagues.
"However, this decision will put the business in a more sustainable footing for the future and protect several hundred jobs as a result."