Zandra Retail Ltd, trading as Quiz clothing, which was listed until recently on the London Stock Exchange, will see the closure of 23 of its shops, with about 200 employees expected to be made redundant.
Quiz, which is chaired by the former JD Sports chief Peter Cowgill, has appointed the insolvency practitioner Teneo as administrator to Zandra Retail, which operates Quiz's standalone stores in the UK and Ireland, after weeks of talks about a rescue deal.
The transaction is expected to be structured as a pre-pack administration, with the remaining assets being acquired by Orion Retail, a subsidiary of the company controlled by the founding Ramzan family.
Orion will hold the right to trade from 42 outlets previously occupied by Zandra.
CAPA have been appointed by the administrators Teneo to carry out a full property audit over 65 properties previously occupied by Quiz.
