Jobs at Falkirk Quiz store may be at risk

The retailer, which has a store in The Howgate shopping centre in Falkirk, announced the move this morning as it looks to secure its future during the coronavirus crisis.

Quiz's standalone stores in the UK and Ireland are operated through its subsidiary Kast Retail Limited, which it will seek to place into administration. The decision puts 93 jobs at risk, with plans to keep 822 of the 915 affected staff with the group.

Job losses are expected across its head office in Glasgow and distribution centre in Bellshill, with others depending on negotiations with landlords. The company says its international operations will be unaffected by the move.

The fashion retailer will eventually look to buy back the stock and some of the assets from Kast for £1.3 million to try to renegotiate better rents with landlords.

Quiz plans on hiring administrators from KPMG to handle the process.

The fashion firm still operates online, however, its stores have been closed since March 22 amid the coronavirus epidemic.

Tarak Ramzan, chief executive of Quiz, said: “It is with deep sadness and regret for some of our colleagues and partners that we had to take this decision to restructure the group's operations.

“We continue to believe that stores, with appropriate property costs and flexible lease terms, can continue to be a relevant pillar in our omni-channel model and we will be seeking to re-open Quiz stores where we believe it is prudent and economic to do so.”