UK fashion retailer Quiz has entered administration as of February 5, resulting in the closure of its online store and the loss of 109 jobs. Despite this, 40 Quiz stores nationwide remain open under the management of administrators from Interpath.
However, customers have been informed that Quiz will no longer honor gift cards or credit notes. This follows a familiar pattern observed in recent retail insolvencies, where companies legally cease to accept gift vouchers after entering administration. Financial expert Martin Lewis explains that gift cards represent a promise to redeem a certain value, but under insolvency law, administrators are not obligated to honor them, often leaving customers out of pocket.
Alistair McAlinden, joint administrator and head of Interpath in Scotland, noted that trading since the administration appointment has been positive. He confirmed that all remaining stores are open and announced additional clearance discounts across remaining stock to encourage sales.
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Shoppers are advised not to rely on gift cards in such situations and to take advantage of current discounts while stock lasts.