Deloitte appointed administrators of Oasis and Warehouse

Deloitte appointed administrators of Oasis and Warehouse

High street fashion retailers Oasis and Warehouse have fallen into administration with Big Four audit firm Deloitte appointed as administrator.

Some of the 1,800 staff employed across the Oasis and Warehouse shops, concessions and head office will be placed on furlough under the UK Government’s job retention scheme.

The brands will continue to trade online whilst Deloitte administrators attempt to sell the business, BBC News reports.

It has been reported that The Oasis and Warehouse Group has been looking for a buyer for several weeks.

Deloitte said that the coronavirus had had a “devastating effect on the entire retail industry”.

Rob Harding, joint administrator at Deloitte, said it had seen “significant interest from potential buyers”, but that it had not been possible to save the business “in its current form”.

He added: “As administrators, we appreciate the cooperation and support from the management, employees, customers, landlords and suppliers, whilst we investigate options for the business. This is clearly an unprecedented and difficult time.”

Hash Ladha, the chief executive of Oasis Warehouse, commented: “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.”

Read all of our articles relating to COVID-19 here.

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