Oasis and Warehouse tipped into administration by pandemic

Oasis and Warehouse Limited, along with associated companies including The Idle Man Limited and Bastyan Fashions Limited, has called in Deloitte as administrator.

The administration, which had been on the cards for some days, has led to 202 redundancies among the group’s 2,000 employees.

The majority of remaining employees in head office, stores and concessions are being furloughed. At the retailer’s headquarters, 41 staff are being retained to help the administrators.

Oasis, Warehouse and Idle Man will continue to trade online while the administrators assess options.

Joint administrator at Deloitte Rob Harding said: “Covid-19 has had a devastating effect on the entire retail industry and not least the Oasis Warehouse group.

“Despite management’s best efforts over recent weeks, and significant interest from potential buyers, it has not been possible to save the business in its current form. Therefore, it has been placed into administration.

“We appreciate the co-operation and support from the management, employees, customers, landlords and suppliers while we investigate options for the business. This is clearly an unprecedented and difficult time.”

Oasis Warehouse chief executive Hash Ladha said: “This is a situation that none of us could have predicted a month ago, and comes as shocking and difficult news. We as a management team have done everything we can to try to save the iconic brands that we love.

“On behalf of us all, I want to take the opportunity to acknowledge our colleagues for their hard work and dedication. These are amazing brands and the business is full of tenacious, talented and determined people. I am confident that my colleagues, together with Deloitte, will find the best outcome for the business.”