Oasis and Warehouse retailers are on the brink of collapse and falling into administration affecting 2,300 jobs, Deloitte have been appointed.
The collapse of the women’s retailers are set to appoint accountancy firm Deloitte to oversee the process, which will be announced within the next 24 hours.
According to Sky News it is thought that the staff will all be furloughed under the governments Coronavirus Retention Scheme.
The group holds 90 standalone high street store, and 437 concessions across popular department stores.
In a statement released at the start of the sale process, a spokeswoman for the retailer said, “Like all businesses operating in these unprecedented times, we continue to work on how we can best navigate through the current challenging circumstances following the COVID-19 outbreak.”
Debenhams said: “This move will protect Debenhams from the threat of legal action that could have the effect of pushing the business into liquidation while its 142 UK stores remain closed in line with the government’s current advice regarding the Covid-19 pandemic.”