Since the brand went into administration, the retailer has been looking to change the terms of their agreement.
Due to the ongoing disruption of the coronavirus pandemic affecting the fashion industry, the company has seen a drop in sales and between April and the end of August, Quiz has reported a huge 77 per cent drop to £12.8M causing the property arm to fall into administration in June and consequently resulting in 93 redundancies.
The company has commented on the news, saying: “Rental terms for the reopened stores are consistent with those targeted. They provide a flexible cost base going forward with rents payable predominantly based upon revenues generated rather than previous higher fixed rental arrangements. The average lease length on these stores is 24 months.”
