Reported about 9 hours ago
The fast fashion retailer Quiz is preparing to close up to a third of its stores in a bid to survive, following significant financial losses and the end of its time on the stock market. The Ramzan family, founders of the chain, are exploring various options, including potential pre-pack administration, as they attempt to cut costs and improve the company's precarious financial situation, which has seen shares plummet from their initial public offering value. With around 1,500 jobs at risk, this decision comes after a series of setbacks that left the company struggling to maintain liquidity.
Source: YAHOO