{"id":464069,"date":"2026-05-01T23:59:16","date_gmt":"2026-05-01T23:59:16","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/464069\/"},"modified":"2026-05-01T23:59:16","modified_gmt":"2026-05-01T23:59:16","slug":"store-closures-retailer-quiz-faces-40million-administration-debt-bill","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/464069\/","title":{"rendered":"Store closures: Retailer Quiz faces \u00a340million administration debt bill"},"content":{"rendered":"

A major retailer has fallen into administration with \u00a340million in debt, placing dozens of stores at risk of closure across the country.<\/p>\n

Quiz Clothing confirmed its financial collapse back in February 2026, having been founded in 1993 by entrepreneur Tarak Ramzan.<\/p>\n

The fashion retailer cited rising tax and business costs and a “disappointing” Christmas shopping season in 2025, which resulted in advisory firm Interpath being appointed administrators.<\/p>\n

Interpath was was specifically assigned to Orion Retail<\/a> Limited, Tarak International Limited and Zandra Systems Limited, which were all trading as Quiz Clothing.<\/p>\n

\"WilkoMarks and Spencer\u2019s, WHSmith, Poundland and Clarks are among the brands closing doors of certain sites for good in the month ahead | PA<\/p>\n

However, a new report has exposed the full extent of Quiz’s administration woes, with the retailer having owed more than \u00a340million once proceedings began.<\/p>\n

This report, seen by The Herald, cited that the connecting parties were owed \u00a315.4million in December, with trade creditors of \u00a36.1million outweighed by debtors at \u00a313.5million and stock coming to around \u00a36.7million.<\/p>\n

Tarak International Limited, the company that manages Quiz’s website and overseas concessionary stores, was found to have debt estimated at \u00a311.1million.<\/p>\n

This debt was outweighed by total sums owed to connected parties of \u00a39.5million, including trade creditors at \u00a33.7million.<\/p>\n

\"StoreThe high street has been hit with store closures in recent months. | PA\"Quiz<\/p>\n

Quiz has fallen into administration with \u00a340million in debt costs<\/p>\n

| PA <\/p>\n

\u200bThe Zandara report stated: “To the extent the company has been required to meet any fees and costs, we understand that, latterly, these would have been funded via loans provided by the company\u2019s sole secured creditor, Zesta Ventures Limited.<\/p>\n

“We understand Zesta Ventures Limited is owed approximately \u00a36million by the group \u2013 albeit, we have yet to receive details of its indebtedness at appointment.”<\/p>\n

In its latest report on March 16, Interpath said: “We presently anticipate the administration trading period could last until mid-May 2026. Albeit, and with support from Hilco, trading performance is being monitored on a daily basis and paring back of operations will be implemented as it is considered necessary over the coming weeks.<\/p>\n

“During the period immediately following our appointment \u2013 with news of the appointment having received local and national media coverage \u2013 we liaised with several parties who had expressed an interest in the company\u2019s business and assets.”<\/p>\n

\"RachelChancellor Rachel Reeves implemented higher national insurance contributions alongside a substantial minimum wage increase | PA<\/p>\n

Publication of this report comes as the business’s 565 members of staff wait to find out whether the remaining 40 stores will remain open. Since the Covid-19 pandemic, store closures have swept Britain amid changing consumer behaviour and a difficult economic environment.<\/p>\n

Here is a full list of the Quiz stores at risk of closing down for good:<\/p>\n