Struggling Quiz released results for the year to the end of March on Tuesday. And while they included only a few weeks hurt by the pandemic, they showed Quiz was already facing challenges before the current crisis.
Under-pressure fashion retailer Quiz Clothing mixed good news with bad on Wednesday and said that it has “made progress with renegotiating the lease arrangements with its landlords for its standalone Quiz stores”.
Fat Face is on the verge of being taken over by its lenders, that include banks and debt funds, in a debt-for-equity swap designed to drastically reduce the firm’s borrowings and help it weather the coronavirus storm.
Quiz has appointed administrators for its standalone store ops, but will buy back the business and renegotiate rents. It means exiting some stores and its Spanish shops will no longer be under its control.
Quiz continues to face difficult trading as UK retail stays challenging at best. And while the firm’s Spanish ops are doing well, its Irish business seems to be suffering from the same issues as it’s facing in the UK.
The cosmetics subscription service revealed on Thursday that it has achieved over $500 million in revenues, and unveiled a suite of updated services for its customers, including new personalization options.