Quiz up as it takes action after allegations

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Quiz up as it takes action after allegations

AIM-listed fashion retailer QUIZ (LON:QUIZ) saw its share price climb by 3.24% to 6.97p (as of 16:30) after it responded to press coverage of working conditions in Leicester facilities. The group has been investigating the allegations and has believes that a supplier was subcontracting out work in contravention of prior instructions from the company. This supplier has been suspended while the investigation continues and the firm is looking at its policies to ensure robust auditing of the supply chain.

CEO Tarak Ramzan commented: “We are extremely concerned and disappointed to be informed of the alleged breach of National Living Wage requirements in a factory making QUIZ products. The alleged breaches to both the law and QUIZ’s Ethical Code of Practice are totally unacceptable.

We are thoroughly investigating this incident and will also conduct a fuller review of our supplier auditing processes to ensure that they are robust. We will update our stakeholders in due course“.

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