Quiz Clothing, the Scotland-based fashion retailer, has achieved a solid turnaround following a restructuring of the business.
The company called in administrators in February following a torrid period on the stock market which left it close to collapse.
After former JD Sports chief Peter Cowgill was brought in as chairman it closed 23 stores and laid off 200 staff to put the business on a more sustainable footing.
The rescue deal was structured as a pre-pack administration, with the remaining assets being acquired by Orion Retail, a subsidiary of the company controlled by the founding Ramzan family.
In July and August the company saw an average 14% uplift in like-for-like store sales and a 5% growth in online sales.
As part of the restructure Quiz has made significant investments in product design, buying and
merchandising with the business recruiting new talent, introducing fresh product categories and
adding supply partners from closer to home territories.
Chief executive Sheraz Ramzan said: “We are encouraged to see the results of our restructure at Quiz Clothing reflected by this uplift in sales.
“While the Quiz DNA remains rooted in occasion-wear and helping our customers look and feel great through quality-first designs, we have seen an exceptional reaction to our renewed focus on casualwear, coordinated separates and transitional ranges.”
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