Major retailer fell into administration with £40MILLION debt as dozens of stores risk closure - full list

Patrick O'Donnell
Fri, 01 May 2026 14:44:55 +0000

A major retailer has fallen into administration with £40million in debt, placing dozens of stores at risk of closure across the country.

Quiz Clothing confirmed its financial collapse back in February 2026, having been founded in 1993 by entrepreneur Tarak Ramzan.

The fashion retailer cited rising tax and business costs and a "disappointing" Christmas shopping season in 2025, which resulted in advisory firm Interpath being appointed administrators.

Interpath was was specifically assigned to Orion Retail Limited, Tarak International Limited and Zandra Systems Limited, which were all trading as Quiz Clothing.

However, a new report has exposed the full extent of Quiz's administration woes, with the retailer having owed more than £40million once proceedings began.

This report, seen by The Herald, cited that the connecting parties were owed £15.4million in December, with trade creditors of £6.1million outweighed by debtors at £13.5million and stock coming to around £6.7million.

Tarak International Limited, the company that manages Quiz's website and overseas concessionary stores, was found to have debt estimated at £11.1million.

This debt was outweighed by total sums owed to connected parties of £9.5million, including trade creditors at £3.7million.

LATEST DEVELOPMENTS

Major kitchen retailer closes EVERY store and cuts all staff jobs

Major high street chain shuts ALL standalone stores across the UK with over 1,000 jobs lost

Thousands of fish and chip shops could be forced to shut amid rocketing oil and energy costs

​The Zandara report stated: "To the extent the company has been required to meet any fees and costs, we understand that, latterly, these would have been funded via loans provided by the company’s sole secured creditor, Zesta Ventures Limited.

"We understand Zesta Ventures Limited is owed approximately £6million by the group – albeit, we have yet to receive details of its indebtedness at appointment."

In its latest report on March 16, Interpath said: "We presently anticipate the administration trading period could last until mid-May 2026. Albeit, and with support from Hilco, trading performance is being monitored on a daily basis and paring back of operations will be implemented as it is considered necessary over the coming weeks.

"During the period immediately following our appointment – with news of the appointment having received local and national media coverage – we liaised with several parties who had expressed an interest in the company’s business and assets."

Publication of this report comes as the business's 565 members of staff wait to find out whether the remaining 40 stores will remain open. Since the Covid-19 pandemic, store closures have swept Britain amid changing consumer behaviour and a difficult economic environment.

Here is a full list of the Quiz stores at risk of closing down for good:

Aberdeen

Basingstoke

CastleCourt shopping centre, Belfast

Bracknell

Cardiff

Carlisle

Castleford

Clydebank

Craigavon

Derby

Dunfermline

Eastbourne

Metrocentre shopping centre, Gateshead

Braehead shopping centre, Glasgow

Buchanan Galleries shopping centre, Glasgow

Glasgow Fort shopping centre, Glasgow

St Enoch shopping centre, Glasgow

Hanley

Hull

Inverness

Irvine

White Rose shopping centre, Leeds

Leicester

Livingston

Manchester Arndale shopping centre

The Trafford Centre, Arndale

Mansfield

Merryhill

Newry

Newtownabbey

Northampton

Norwich

Portsmouth

Romford

Meadowhall shopping centre, Sheffield

Stirling

Telford

Lakeside shopping centre, Thurrock

Warrington

Watford