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Quiz plc – argues on sourcing standards “understands the critical importance”… so why having to be “very grateful to the press for highlighting… alleged breaches”?

By Steve Moore | Monday 13 July 2020

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on fast-fashion company Quiz plc (QUIZ), last month I noted with the shares at 7.5p with its retail store portfolio uneconomic anyway, “Restructuring” utilising COVID-19 excuse – concluding noting “is in discussions with regards to securing a longer-term bank facility”. With a viable business still needing to be demonstrated here, despite the prospective release of various liabilities, at this juncture I certainly continue to avoid. Now a “Response to Media Reporting” announcement, commencing “QUIZ is extremely concerned by information recently reported in the media regarding an alleged instance of non-compliance with National Living Wage requirements in a factory making QUIZ products in Leicester”...

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