FASHION retailer Quiz has placed the division that runs its 82 standalone stores into administration.
The move was announced this morning as the company looks to secure the future of the wider business.
The British fashion retailer Quiz said today it would place its stores unit into administration and then buy the business back so it can try to renegotiate better rental terms.
The group’s 82 standalone stores in the United Kingdom and the Ireland, which have been closed since March 22, are operated through its subsidiary, Kast Retail Limited.
Quiz is seeking the appointment of administrators to Kast and to subsequently acquire from the administrators the business and certain assets of Kast for 1.3 million pounds
More to follow…
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