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Daily Mirror
Daily Mirror
Business
James Andrews

All Oasis and Warehouse stores 'closed indefinitely' with 1,803 jobs lost

Efforts to save fashion chains Oasis and Warehouse have failed, seeing all stores now closed indefinitely and 1,803 jobs lost.

The Idle Man and Bastyan Fashions were also part of the group and are now shut permanently too.

Between them, the fashion chains had 92 branches, with another 437 concessions based in third party retailers.

There were hopes the chains could be sold on, saving jobs and keeping stores open, after former owner Kaupthing started discussions with prospective buyers earlier this year.

But hopes have now disappeared, with the chains first falling into administration on April 15 and now the administrators announcing their permanent closure.

Warehouse stores will not reopen (Graham Young / BirminghamLive)

Rob Harding, joint administrator at Deloitte, said: “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."

The administrators said online trading stopped on Wednesday 22 April as costs rose and they were hit with logistical challenges when fulfilling orders.

"As a result of this, and as it became clear that a sale of any part of the business as a going concern would not be possible, the decision was taken to accelerate a sale of some of the Group’s assets," Deloitte said in a statement.

The administrators did manage to sell some stock and intellectual property assets associated with the Group to Hilco Capital, but that was the best outcome they could manage.

“COVID-19 has presented extraordinary challenges which have devastated the retail industry," Harding said.

“We would like to thank all the employees and other key stakeholders in the Group for their continued support.”

We've got a full guide on your Oasis returns, refunds and gift card rights, here.

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