More than 1,800 people are set to lose their jobs at Oasis, Warehouse and two other brands, after administrators were unable to find a buyer for the business.
All stores will close indefinitely and online sales will be stopped, accountancy giant Deloitte said.
The total collapse of Oasis Warehouse Limited – the company behind the two brands, along with The Idle Man and Bastyan Fashions – will result in the loss of 1,803 jobs.
Deloitte said it had sold the company’s stock and intellectual property to restructuring expert Hilco Capital, but Hilco had decided not to buy the rest of the business.
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 added: “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 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 group fell into administration on April 15, affecting staff at 92 stores and 437 concessions across the country.
Hash Ladha, chief executive of Oasis Warehouse, said at the time: “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.”
