Oasis and Warehouse collapse into administration

Oasis on Coppergate. Photograph © Google Street View
15 Apr 2020 @ 5.43 pm
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High-street fashion chains Oasis and Warehouse have collapsed into administration

Around 2,000 workers across 92 stores and 437 concessions are affected, although administrators said the majority would remain furloughed for now.

But 200 were made redundant today (Wednesday, 15 April) by Deloitte, as administrators try and find a buyer.

The business includes an Oasis in the Coppergate Centre and a concession at John Lewis in the Vangarde Centre, and a Warehouse on Coney Street.

Online trading continues “in the short term”, the company added.

Hash Ladha, chief executive of Oasis Warehouse, said: “This is a situation that none of us could have predicted a month ago, and comes as shocking and difficult news for all of us.

“We as a management team have done everything we can to try and save the iconic brands that we love.”

The retailer was owned by Kaupthing, the failed Icelandic bank, and its own administrators had tried to sell Oasis Warehouse three years ago, but this was later abandoned.

The coronavirus pandemic is eating into British high street businesses, which were already feeling the pinch before the outbreak started.

Debenhams last week entered administration for the second time in a year in a bid to protect itself during the shutdown.

The company’s 142 stores were already closed and most of the 22,000 members of staff on furlough before the owners pushed the business into administration.