Home   Maidstone   News   Article

Quiz in Fremlin Walk in Maidstone has closed as 23 stores across the country are shut after insolvency deal

High street retailer Quiz has closed 23 stores, including one branch in Kent, after tumbling into insolvency.

It comes after the fashion chain was hit by a downturn in custom, with disappointing sales over the key Christmas period.

Quiz in Fremlin Walk, Maidstone, has shut
Quiz in Fremlin Walk, Maidstone, has shut

The brand was bought in a pre-pack insolvency deal, which has seen new owner Orion save 42 of its shops.

However, administrators have now closed 23 stores in the UK and Ireland which were deemed “loss-making or unsustainable” by the new owner.

Among them is the branch in Fremlin Walk, Maidstone.

Chief executive of Quiz, Sheraz Ramzan, said: “The board took the difficult decision to appoint administrators 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 on a more sustainable footing for the future and protect several hundred jobs as a result.”

Around 200 jobs are at risk following the decision.

Last month, Quiz dropped its listing on London’s AIM stock market to save itself cash.

It said the poor trading was partly because of the “impact of inflationary pressures on consumer confidence and spending”.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More