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Oasis and Warehouse stores to permanently close

All Oasis and Warehouse stores are to permanently close after administrators for the failed fashion chains were unable to find a buyer for the company behind… View Article

FASHION

Oasis and Warehouse stores to permanently close

All Oasis and Warehouse stores are to permanently close after administrators for the failed fashion chains were unable to find a buyer for the company behind the brands.

The news means that the 1,800 workers who had been furloughed on the government’s covid-19 job retention scheme will now lose their jobs.

Oasis and Warehouse called in administrators earlier this month and soon after 200 staff were made redundant. Around 40 staff members have been retained at the brands’ head office but they are also expected to lose their jobs at a later date .

The administrators were able to sell the brands’ intellectual property and stock to Hilco Capital but the firm declined to take on the rest of the business.

Rob Harding, joint administrator at Deloitte, said: “Covid-19 has presented extraordinary challenges, which have devastated the retail industry. It is with great sadness that we have to announce a sale of the business has not been possible and that we are announcing so many redundancies today.

“This is a very difficult time for the group’s employees and other key stakeholders and we will do everything we can to support them through this.”

 

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