Quiz, the fashion retailer, is reportedly on the verge of collapsing into administration just days after its shares were delisted from the London Stock Exchange.
According to Sky News, Teneo is set to be appointed administrator before the end of next week.
Quiz, which has around 60 stores and roughly 1,500 staff, would be restructured to allow the founding Ramzan family to regain control of fewer sites and employees, the report said.
Quiz was last week said to have been preparing to close up to a third of its stores, while shareholders earlier in the month overwhelmingly backed the company being taken private.
Citing a bad Christmas, the retailer had warned in late December that it only had cash to last until early 2025.