A West Lothian clothing store could be forced to close with its owners on the brink of administration.
Hundreds of jobs are at risk with Glasgow-based fashion firm Quiz experiencing financial issues which could result in the permanent closure of its Livingston branch.
Quiz also operates a concession outlet in New Look at Edinburgh’s Fort Kinnaird shopping centre. Founded in 1993, the retailer, at its peak, had over 300 stores worldwide, with the vast majority in the UK and Ireland.
However, the firm has faced financial hardship in the past and in 2020 it placed 82 of its UK branches into administration, before buying them back with the loss of 92 jobs.
Last year bosses warned the company would run out of cash in early 2025 without new funding, reports the Scottish Daily Express.
At the time, the company described the Christmas trading period as “disappointing” and said its cash reserves were “less than previously anticipated”.
It blamed the “impact of inflationary pressures on consumer confidence and spending” on the poor trading conditions as well as “subdued consumer demand for the brand”. The situation was so bad that bosses took the decision to delist the company from the London Stock Exchange in a money-saving move.
Chairman Peter Cowgill warned last year that the company needs to “substantially reduce” costs, which will likely see the closure of parts of the business. Beyond that, he wrote, “there exists substantial risks associated with the group’s ability to continue as a going concern”.
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