A Scottish family-founded fashion giant is facing its final days in operation as its owners race against time to secure a rescue package.
The Glasgow company’s strategy seemed to be working when it was valued at £200 million in 2017, but it has ultimately been squeezed by a combination of factors.
The fast-fashion chain selling affordable occasion, party and dresswear for younger people was launched in Scotland’s largest city in 1993 by Tarak Ramzan, and in 2024 under his son Sheraz’s charge the empire had 62 stores and 47 concessions in the UK, with further outlets in the US and Middle East.
However, it was also at this stage preparing to exit the Alternative Investment Market in London. The company delisted in early 2025.
Principally hit by “changing consumer habits and cost pressures from business rates”, the company was saved from collapse when the owners were able to buy it in a pre-pack administration.
The 2025 move meant 40 stores and a smaller number of concessions could remain open with around 1,000 jobs saved.
By October last year the firm was even pressing ahead with potentially opening 10 new stores under plans to “expand in the right locations”.
Following a further administration, however, this number, with around 565 jobs remaining, are at risk.
Alistair McAlinden and Geoff Jacobs from Interpath were appointed joint administrators to Orion Retail Limited, Tarak International Limited and Zandra Systems Limited, collectively trading as Quiz Clothing, in February.
The administrators said then that the business had experienced a year of challenging trading conditions.
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While sales were reported to have been stronger than anticipated up to a point, they fell below expectations during the crucial festive season and this was both online and on the high street.
Interpath said then: “Quiz had to contend with strong economic headwinds including changing consumer habits, cost pressures from business rates and the recent increases to employment costs.”
It said the directors “worked tirelessly to explore options to safeguard the future of Quiz, including efforts to source funding, however, with no solvent solutions available, they took the difficult decision to place these companies into insolvency”.
The administrators have been trading the stores since, but, there and then, 109 jobs at Quiz’s head office in Glasgow and distribution centre in Bellshill were cut.
I wrote this week that the company’s future hangs in the balance. It can only be hoped that funding can be found to lift some of the stores out of administration at the end of April.
Elsewhere this week, the owner of JA Mar Hall golf and spa resort near Glasgow has flagged a notable extension of Scotland’s international appeal “beyond traditional tourist hubs such as Edinburgh and the Highlands”, with Glasgow and Lowland rural areas “gaining traction”.
JA Resorts & Hotels vice-president of sales Philip Dickinson, in an exclusive interview with Business Editor Ian McConnell, also said that “investors are recognising increased opportunities beyond the established hotspots”.
Also this week, Business Correspondent Kristy Dorsey wrote in the Business of Golf newsletter that a series of dementia-friendly golf sessions has started in Scotland.
She wrote that the six-week pilot programme is a collaboration between St Andrews Links Trust and five of the town's clubs, with support from the charity "Fore" Get Me Not Golf.
The Linked Together initiative will blend physical activity, mental stimulation and social interaction in a safe, adapted setting to support people taking part.
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