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Oasis and Warehouse close to administration

Oasis and Warehouse Group is preparing to appoint accountancy firm Deloitte as administrator, putting 2,000 jobs at risk. 

The Oasis and Warehouse Group, which is owned by failed Icelandic bank Kaupthing, had been in talks with prospective buyers over the last few weeks.

Although there is thought to have been strong interest in the group, the uncertainty caused by the coronavirus pandemic is understood to have made a solvent sale impossible to conclude. The appointment is expected to be announced later today, or tomorrow. 

Administrators for Kaupthing launched a sale for the group, which then included Karen Millen and Coast, back in November 2016. Kaupthing then opted to withdraw from the sale process in 2017, after the only remaining bidder was Emerisque Brands, a private equity firm.

The group declined to comment. 

 

 

 

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