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Gloucestershire Business News

Oasis and Warehouse close to administration

Picture: Google

Oasis and Warehouse have become the latest high street names close to administration.

The women's fashion retailers are expected to follow Debenhams and Cath Kidston in appointing administrators with 2,300 jobs at risk.

Owned by Icelandic bank Kaupthing, the chains shut their 90 UK shops last month during the coronavirus lockdown.

The group also has 437 concessions in department stores including Debenhams and Selfridges.

Oasis has a concession at Debenhams in Gloucester while both chains have branches in Cheltenham.

Kaupthing had been in talks with potential buyers before the closures.

Sky News reported that Deloitte is expected to be appointed as administrator and furlough many staff under the Coronavirus Job Retention Scheme.

Debenhams, which employs 22,000 staff, last week confirmed it had entered administration for the second time this year but hope to reopen as many of its 142 UK shops as possible.

Cath Kidston's administration put 950 jobs at risk while fashion chain New Look has informed suppliers that payment for stock would be delayed indefinitely.

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