Exclusive: Chain linked to fund raising
Retailer Quiz looking at flotation say sources
Glasgow-based Quiz Clothing has held talks with City institutions over a new capital raising exercise, Daily Business understands.
The womenswear retailer, which has 267 outlets and reported record income last year, is said to be considering a flotation among its options and is said to have engaged Panmure Gordon.
It did not respond to requests for information.
Quiz reported an 11.8% jump in annual revenue to £87.4 million for the year to the end of March last year, boosted by a surge in online sales.
Founder Tarak Ramzan said online sales surged by a third, raising pre-tax profits by 18% to £5.7m.
In a statement issued in December Mr Ramzan said: “Quiz continues to build momentum in the UK and enjoy positive reactions in our international markets. We remain excited about the significant growth opportunities.”
The firm invested more than £3m in a new automated warehouse facility in Bellshill to support the delivery of the brand’s UK and international growth plans. It has 47 stores overseas.