Fashion retailer Boohoo has snapped up the online businesses of collapsed chains Oasis and Warehouse for £5.3 million.
Oasis Warehouse Limited was placed in administration in April, with the loss of more than 1,800 jobs after a buyer could not be found for the 92 shops and 437 concessions at department stores located across the UK.
Boohoo announced the deal as it unveiled "very strong" trading despite the coronavirus crisis, with UK sales surging 30 per cent in the three months to May 31.
Boohoo, which also bought Karen Millen and Coast's online businesses from administrators last summer, said it would integrate the Oasis and Warehouse online operations into its platform in the coming months.
Boohoo said: "Oasis and Warehouse are two well-established brands in the UK targeting fashion-forward shoppers and are a complementary addition to our portfolio of brands."
It comes as Boohoo is planning to capitalise on the shake-up in the retail sector, having raised £197.7 million in an investor cash call last month to "take advantage of numerous M&A (mergers and acquisitions) opportunities that are likely to emerge in the global fashion industry over the coming months".
Boohoo has so far weathered the Covid-19 crisis better than its high street rivals, with total group revenues rising 45 per cent in the quarter to May 31.
It said sales were impacted by the lockdown from the middle of March to early April, with a "marked" fall in sales initially, though trading improved in April and bounced back strongly in May.
Boohoo shifted its focus towards loungewear and so-called athleisure ranges that have become popular as Brits stayed at home.
Boohoo is currently offering up to 70% off everything online here.
