More than 1,800 jobs to be lost at Oasis and Warehouse as administrators are unable to rescue the company

MORE than 1,800 jobs are set to be lost at Oasis and Warehouse after administrators were unable to rescue the company behind the brands.

Hilco Capital, the former owner of HMV, is understood to have bought the two brands and stock but the deal doesn't include any of the fashion retailers' stores or online operations.

All 92 branches and 437 department store concessions are currently shut under government orders for all non-essential retailers to close to stop the spread of coronavirus.

But the stores won't reopen even after the lockdown is lifted with 1,803 employees face losing their jobs immediately.

It's understood that staff were told this morning that they wouldn't receive their statutory redundancy pay, reports Sky News.

The struggling retailer stopped trading online last Wednesday, even though it is allowed to under current lockdown rules.

It blamed the rising cost of fulfilling online orders and associated logistical challenges associated with the lockdown, such as implementing social-distancing rules.

MORE FOLLOWS

Source: Read Full Article