Fashion chain Quiz Clothing closes two Northern Ireland stores following entry into administration
Around 200 UK jobs are at risk after the retailer struggled with poor sales and rising costs
Troubled British fashion retailer Quiz Clothing has closed 23 stores following its entry into administration, putting approximately 200 jobs in jeopardy - including two in Northern Ireland.
The closures of Quiz stores come despite the brand being acquired in a pre-pack administration deal by a subsidiary of the founding Ramzan family.
The Northern Ireland stores are in Richmond shopping centre, Londonderry and Erneside shopping centre, Enniskillen.
Last month, the company revealed it was seeking urgent funding, warning that it could run out of cash by March.
Quiz has announced it appointed insolvency firm Teneo as the administrator for Zandra, its subsidiary managing stores in the UK and Ireland.
The administrators brokered a deal with Orion, a company owned by the Ramzan family, to acquire key assets, including the Quiz brand and 42 of its stores.
The retailer said that the deal would preserve the majority of jobs within the business. But 23 "loss-making or unsustainable" stores, which employed around 200 people, were not included in the sale.
Quiz has previously described its sales during the Christmas trading period as "disappointing", and said that its cash reserves were “less than previously anticipated”.
The company attributed the weak performance in part to the “impact of inflationary pressures on consumer confidence and spending”.