A major high street fashion retailer with stores across in Craigavon, Dungannon and Newry, has entered administration, putting many local jobs at risk.
Womenswear chain Quiz has confirmed it has filed Notices of Intention to Appoint Administrators, as it struggles with rising costs and weaker consumer spending.
The retailer operates 44 standalone stores across the UK, as well as 41 concessions in other outlets such as New Look. Its website lists Northern Ireland stores in Belfast (Castlecourt), Craigavon, Newry and Newtownabbey, along with a number of concessions.
These include concessions in Dungannon, Ballymena, Bangor, Lisburn and Magherafelt, as well as locations in Belfast’s Victoria Square.
Just days before the announcement, Quiz revealed it was exploring several options to secure its future following what it described as “disappointing” Christmas sales. Those options included seeking new financing and potentially closing some stores.
If administration proceeds, it will be the third time in six years that Quiz has entered insolvency proceedings. Less than a year ago, the founding Ramzan family placed the business into administration, resulting in the closure of 23 stores, before buying back the remaining assets in a pre-pack deal.
Quiz also closed 11 stores in 2020, blaming the impact of Covid lockdowns.
In a statement, a company spokesperson said: “Like many other high street retailers, we have faced significant headwinds over the past 12 months, including the impact of fragile consumer confidence and a significant increase in business rates and employer costs.
“While we continue to explore the options available to us, we have today filed Notices of Intention to Appoint Administrators which will give us the time we need to try and secure a positive outcome.”
In recent years, the retailer has also been dealing with increased employer National Insurance contributions, along with rising minimum wage and energy costs.
