Quiz’s shareholders have voted in favour of delisting the struggling fashion retailer from AIM as it reverts to private ownership.

Over 98% of shareholders backed the resolutions to delist and re-register as a private limited company, with the fashion retailer’s shares set to cease trading at 7am on 23 January 2025.

It will formally re-register as a private limited company in the week commencing 27 January.

The move comes amid ongoing financial pressures, with the business warning last month that it could run out of cash by early 2025 following disappointing Christmas trading.

Quiz’s cash reserves had fallen to £500,000 by the end of December, down from £1.2m at the start of the month.

The fashion retailer has teamed up with JP Jenkins to help shareholders buy and sell their shares privately once the company leaves the stock market.

The decision to delist comes just a day after reports that Quiz’s main lender, HSBC, had enlisted Interpath as restructuring advisors to navigate the retailer’s mounting woes.

Quiz, chaired by former JD Sports boss Peter Cowgill, said it experienced “a marked decline in traffic both online and in-store” during November, which caused sales for the four months to 30 November to drop 5.7% to £24.9m.

Click here to sign up to Retail Gazette‘s free daily email newsletter