More than 1,800 jobs to go as no buyer found for Oasis and Warehouse

More than 1,800 workers are set to lose their jobs at Oasis and Warehouse and two other brands, after administrators said they were unable to find a buyer for the business.

Deloitte said that all stores will close indefinitely and online sales will be stopped.

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The failure to save any part of Oasis Warehouse Limited, the company behind the two brands, along with The Idle Man and Bastyan Fashions, will result in the loss of 1,803 jobs.

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.

The Oasis and Warehouse Group has been looking for a saviour for weeks, according to reports.

But the coronavirus pandemic is eating into British high street businesses, which were already feeling the pinch before the outbreak started.

Administrator Rob Harding 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."

He added: "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."