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Oasis and Warehouse up for sale

Administrators for failed Icelandic bank Kaupthing are looking to sell Warehouse, Oasis and Coast.

The administrators are also reportedly exploring options for Karen Millen.

Last month Kaupthing invited banks to pitch for a mandate to auction the retail assets early next year, sources said, but could face a tough sell.

A sale of Oasis, Warehouse and Coast could be worth less than £100m, sources told Reuters. One of them said it might draw interest from private equity funds.

Kaupthing was nationalised during Iceland’s financial crisis, between 2008 and 2011. It acquired the brands in 2009 from Mosaic Fashions, which entered administration after shareholder Baugur collapsed.

A spokeswoman for Karen Millen told Drapers the business is ”not up for sale and the new team remain focused on putting the right strategy in place to grow the business.” The other retailers did not respond to requests for a comment. 

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