Retailer looking at stock market
Quiz closes in on £200 million flotation plan
Quiz Clothing appears to be closing in on plans for a £200 million stock market flotation, as revealed by Daily Business last week.
The 70-year-old Glasgow business, which began by making kilts, has hired City firm Panmure Gordon to look at financing options.
Quiz is owned and run by Tarak Ramzan and his family and has built a UK-wide chain of almost 300 stores which have defied the downturn.
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.
Mr Ramzan said online sales surged by a third, raising pre-tax profits by 18% to £5.7m.
In a statement issued in December he 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.