Liquidators appointed to Irish arm of Oasis and Warehouse
It comes after the British fashion brands failed to secure a buyer or fresh investment due to coronavirus-related uncertainty. The firms had also been trading in a difficult environment, said a solicitor.
The Irish businesses employed 248 people and operated 13 stores and 29 concessions. Ken Fennell and James Anderson of Deloitte Ireland have been confirmed as joint liquidators of the two companies.
The move comes after administrators were appointed to the companies’ UK parent a month ago. This meant that the Irish subsidiaries could no longer use certain services from the UK parent, such as HR, IT and the sourcing of stock, which they required to continue to trade.
A part of the business has now been sold to Hilco Capital, the former owner of HMV, which has acquired the labels and their outstanding clothing stock. All stores in the UK will also close.
It remains unclear whether Oasis and Warehouse will continue to trade online, but their online shops remain closed with a message reading “We hope to be back soon.”
The group is one of several retail casualties of the Covid-19 crisis, joining Laura Ashley and Animal in the UK and J. Crew and Neiman Marcus in the US. Cath Kidston was also at risk of collapsing before its owner bought the brand out of administration in a pre-pack deal.
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