Warehouse and Oasis have been struggling for some time, and today administrators confirmed the high street closthing stores won’t be reopening stores once the coronavirus crisis is over. Deloitte confirmed not only will stores close indefinitely, but online sales will also be stoppped.
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Administrator Rob Harding 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.”
He continued: “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.
“We would like to thank all the employees and other key stakeholders in the group for their continued support.”
The two brands are owned by Oasis Warehouse Limited, which also owns The Idle Man and Bastyan Fashions.
All four brands will close, leading to 1,803 job losses.
Deloitte did sell the intellectual property and company’s stock to restructuring expert Hilco Capital, but Hilco had decided not to buy the rest of the business.
According to Sky News, staff have been told they will not receive statutory redundancy pay from the company.
Oasis and Warehouse had a little over 90 standalone stores and another 437 concessions in department stores across the UK, including Debenhams – itself struggling.
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