Oasis and Warehouse to Close Permanently with Loss of 1,800 Jobs | Business

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Oasis and Warehouse must permanently close all their stores and online shopping with the loss of more than 1,800 jobs after the administrators said they could not get a bailout deal for the fashion chains.

The two brands were sold to the restructuring company Hilco, owner of the DIY chain Homebase, as part of an agreement that includes their stock, but not their 92 stand-alone stores or around 400 dealerships in Debianhams stores, House of Fraser and Sainsbury’s.

Rob Harding, Managing Director at Deloitte, said: “Covid-19 has presented extraordinary challenges, which have devastated the retail industry. It is with great sadness that we must announce that the sale of the business was not possible and that we are announcing so many layoffs today.

“This is a very difficult time for group employees and other key stakeholders and we will do our best to support them through this. “

Oasis and Warehouse called directors earlier this month and sacked 200 head office workers for no gain.

The collapse of fashion chains is another blow to shopping streets and malls, after a wave of closures in the past two years in a tough consumer market and rising costs.

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The temporary forced closure of clothing chains and other outlets deemed “non-essential” as part of government efforts to prevent the spread of the coronavirus has only compounded the difficulties.

In the past few months, Debenhams has stepped into administration for the second time in a year while vintage-inspired chains Laura Ashley and Cath Kidston have also hired directors.

Other retailers, including shoe specialist Office, whose South African owner Truworths is looking for a buyer urgently, are also under pressure.

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