Oasis and Warehouse 'on the verge' of administration putting 2,300 jobs at risk

HIGH street fashion giants Oasis and Warehouse could be set to plunge into administration in less than 24 hours, putting more than 2,000 jobs at risk.

Sky News reports how the fashion chains are close to appointing accountancy firm Deloitte to handle an insolvency process.

The news site says an announcement is expected later today, April 14, or tomorrow.

The Oasis and Warehouse Group employs 2,300 people and is owned by Icelandic lender Kaupthing.

According to Sky News, the majority of staff who keep their jobs would be furloughed under the Coronavirus Job Retention Scheme.

The Oasis and Warehouse Group has 90 standalone stores in the UK, with an additional 437 shops trading in department stores.

We've asked Kaupthing for more information and we'll update this story when we know more.

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