Fast fashion retailer Quiz Clothing has unveiled plans to delist from London’s junior stock market amid a struggle to stay afloat.
Shareholders of Quiz, which has 60 UK stores, will be asked to vote to leave AIM at an investor meeting in January.
Quiz said the delisting will be “in the best interests of the company and its shareholders.”
Founder Tarak Ramzan and his family will vote to leave AIM, as will major investors Tajveer and Amraj Gill.
Delisting?: Quiz shareholders will be asked to vote to leave AIM at an investor meeting in January
In total, owners of 66.74 percent of Quiz’s shares are expected to support the delisting, which would require 75 percent to pass.
Meanwhile, Scottish-born Ramzan is in talks to underwrite a £1million loan to the retailer.
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