More than 1,800 jobs are set to be lost at Oasis and Warehouse as administrators rule out rescue for owners
- The brands are owned by the failed Icelandic bank Kaupthing
- It’s reported that Hilco Capital, former owner of HMV, is buying brands and stock
More than 1,800 jobs are set to be lost at Oasis and Warehouse as administrators said they were unable to rescue the company behind the brands.
The brands, which are owned by the failed Icelandic bank Kaupthing, also have 437 concessions in department stores including Debenhams and Selfridges.
Deloitte, the accountancy firm, was appointed to handle an insolvency process earlier this month.
Sky News reported that Hilco Capital, the former owner of HMV has agreed to buy the two brands, along with Idle Man, but not the stores.
Stock from their hundreds of outlets across the UK will be bought by Hilco.
Staff are also reportedly not receiving statutory redundancy pay