Monsoon Accessorize and Quiz have been high street fixtures for many years but poor trading figures, compounded by the coronavirus and its subsequent lockdown have hit the fashion brands hard.
“Whilst we have taken pro-active actions over the past 18 months to drive footfall to our stores and renegotiate leases to improve performance, the significant economic uncertainty we now face as consumers and businesses emerge from the COVID-19 pandemic has meant that, in order to ensure a sustainable future for the group, we have taken this decision to place the subsidiary which operates our stores into administration.
“We continue to believe that stores, with appropriate property costs and flexible lease terms, can continue to be a relevant pillar in our omni-channel model and we will be seeking to re-open Quiz stores where we believe it is prudent and economic to do so.”
Yesterday it was announced a number of Debenhams stores are closing.
Debenhams has already stated 17 stores will not reopen after lockdown.
Now another three stores have been revealed to be closing too.
They are Milton Keynes, Watford and Metrocentre, Gateshead.
Published at Thu, 11 Jun 2020 06:15:00 +0000