Following the news that QUIZ’s store subsidiary has fallen into administration:
Pippa Stephens, Retail Analyst at GlobalData, a leading data and analytics company, offers her view on the situation:
“While QUIZ’s physical locations were already in trouble before the outbreak of COVID-19, three months’ worth of store closures across its estate has taken its toll, with the retailer now struggling to pay all of its store costs. While the administration of its store subsidiary Kast Retail will enable Quiz to renegotiate leases, it brings bad news for its landlords who will be left with little choice but to agree to rent cuts, or else risk losing out on payments entirely.”
“QUIZ’s product range will have caused it to suffer more than other clothing specialists throughout the pandemic, as its reliance on occasionwear will have deemed it irrelevant as events like weddings and proms have been cancelled or postponed during lockdown. Its key competitors boohoo.com and PrettyLittleThing have adapted their ranges to capitalise on consumers’ desire for loungewear, while also perfectly positioned for consumers’ shift towards purchasing clothing online. With store closures on the horizon, QUIZ must also aim to drive further spend through its online channel in the long term, by making its website more visually appealing, and offering more affordable delivery options.”
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