A total of 1803 employees are set to lose their jobs at retail outlets Oasis and Warehouse Group, after administrators Deloitte announced that they were unable to find a buyer for the whole business.
Deloitte stated that all of the Oasis and Warehouse’s stores will close indefinitely and online sales will be stopped immediately. The Group is the latest victim in the retail sector as a result of coronavirus.
The fashion chains also owns online retailers The Idle Man and Bastyan Fashions – both of which will also close.
Deloitte said it had sold the intellectual property and the company’s stock to restructuring expert Hilco Capital, but Hilco had decided not to buy the rest of the business.
Rob Harding, one of the administrators from Deloitte 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.
“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.”
Also as part of the administration deal, Hash Ladha left his post as CEO while Group Chief Product Officer Paula Stewart has also left her role.