Quiz’s lenders have hired restructuring advisors just days before the troubled fashion brand is set to hold a vote on delisting from the London stock market.
The brand’s principal lender HSBC is understood to have drafted in Interpath to advise it on the growing crisis at the retailer, Sky News reported.
Quiz, which is chaired by former JD Sports Fashion boss Peter Cowgill, is holding a shareholder vote this week as it looks to revert back to a private company.
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It comes as the retailer warned last month that it would run out of cash by “early 2025” following weak trading over the Golden Quarter.
“Given the disappointing level of revenues in the important Christmas trading period, as announced on 6 December 2024, the cash headroom available to the business is less than previously anticipated,” Quiz said in a statement.
The fashion retailer finished December with around £500,000 in total liquidity headroom, more than half of the £1.2m it had at the start of the month.
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