Oasis and Warehouse announced their unfortunate collapse during the Covid-19 pandemic, with almost 2,000 people losing their jobs.
But if you’re a fan of the high street stores, the good news is that the Boohoo group have announced that they’ve agreed to buy the online companies for £5.25million.
The fast fashion company, who also own Prettylittlething and Nasty Gal, bought struggling high-street brands Karen Millen, Coast and Miss Pap last year and intend to use their e-commerce business model to transform the brands.
In April, Oasis and Warehouse went into administration, leaving 1,800 employees redundant.
The two brands were forced to shut their 90 UK stores and 437 concessions in department stores such as Debenhams and Selfridges in March because of the coronavirus lockdown and subsequently suffered losses.
The previous owner had been in talks to sell the business before Coronavirus hit the UK, but no buyer could be found.
The brands and stock were then bought by Hilco Capital, who sold them to Boohoo. Their online stores are now closed, but their sites tell fans of the shops that they ‘hope to be back soon’.