Highlights
- Quiz exploring rescue financing options following disappointing Christmas sales performance.
- Retailer employs 1,000 staff across 40+ stores and faces potential closures.
- Cost pressures from national insurance hikes, minimum wage increases and business rates reform cited as key challenges.
Fast fashion retailer Quiz is urgently seeking emergency financing to secure its future after experiencing disappointing Christmas sales, with the company's founders blaming rising costs and fierce competition from Chinese online giants.
The Glasgow-based chain, which operates more than 40 stores and employs approximately 1,000 staff, is considering drafting in specialist advisers to explore rescue options.
These may include securing new investment and potential store closures as the business battles mounting financial pressures.
Sources close to the company revealed that several turnaround funds have approached Quiz with offers of fresh capital.
The Ramzan family, who own the business, are currently assessing various internal and external financing options.
A company spokesman confirmed the challenging trading conditions "The business has experienced volatile trading in the last twelve months.
While sales were stronger than anticipated in the summer, they were disappointing during the critical Christmas period."
The retailer specifically highlighted government budget disruption around Black Friday, cost pressures from business rates, and increases in national minimum wage and national insurance as significant challenges affecting the wider retail sector.
Retail sector struggles
Quiz joins a growing list of struggling retailers including Original Factory Store and Claire's Accessories, which recently collapsed into administration with 2,500 job losses. Russell & Bromley is also closing 32 of its 35 shops as part of a deal with Next.
Founded by entrepreneur Tarak Ramzan in 1993 as a single shop, Quiz joined the London Stock Exchange in 2017, delivering a £92 million windfall to nine Ramzan family members. Investment giants Schroders and BlackRock participated in the £200 m listing.
However, the company's fortunes declined rapidly, issuing multiple profit warnings that devastated its share price.
Last year, the Ramzan family bought back the business through a pre-pack administration deal after closing 23 stores.
Despite recent difficulties, Quiz reported a 14 per cent increase in store sales during July and August 2025 and opened new locations in Aberdeen and Telford in December.
