Quiz, the Glasgow-based retailer, is reportedly closing a third of its UK stores due to falling profits and declining demand
Glasgow: So, it looks like Quiz, the clothing brand, is in a bit of trouble. They’re planning to shut down about a third of their shops across the UK. Yikes!
They’ve got around 60 stores in total, with 17 of them in Scotland. But with profits dropping and fewer people shopping, they’re having to make some tough choices.
The company’s chair, Peter Cowgill, is bringing in restructuring experts to help figure things out. Meanwhile, the CEO, Sheraz Ramzan, is looking closely at the stores that aren’t doing well.
It’s not clear yet which shops will close, but it sounds like they’re really considering it. They’ve even talked about some serious cost-cutting measures to keep the business alive.
Last year was rough for them, with a loss of nearly £7 million. They’ve already borrowed money from Sheraz’s dad to try and stay afloat. It’s a tough time for the high street.
We’ll have to wait and see what happens next. Fingers crossed for the folks at Quiz!
