Broken Back

High-Street fashion chains Oasis and Warehouse have fallen in the administration, to More Than 200 direct job losses.

about 1,800 employees at the stores, concessions and headquarters in furloughed and receive 80% of the salary.

The brands that are sold online "short-term", while the administrators try to sell the brand.

the Administrator, Deloitte, said the coronavirus has had a "devastating effect on the entire retail trade".

the owner of The High -Street brands, the Icelandic Kaupthing bank, had to sell in talks to the company prior to the coronavirus crisis.

But The Crisis , which has seen many shops temporarily closed, has made the sale untenable.

Rob Harding, joint administrator at Deloitte, said he had seen "to save the great interest of potential buyers", but that it was not possible for The Business "in its current form".

"As an Administrator, we appreciate the cooperation and support by the management, employees, customers, landlords and suppliers, while we examine options for The Business . This is clearly an unprecedented and difficult period," he added.

Hash Ladha, The Chief executive of Oasis, Warehouse, said: "This is a situation that none of us could foresee a month ago, and comes as shocking and difficult news for all of us.

"We as a management team you have done everything that we can to try and save the Iconic Brands that we love. "

It is expected to buy the interest of the tenderers to The Business , a source said on Tuesday, but with the current economic uncertainty, it is not clear how many jobs could ultimately be saved.

Deloitte has furloughed than 1,800 employees of the government of Coronavirus Job Retention scheme, while 41 seat rollers are kept to the administrators to help.

The Chains were forced to close their 92 UK stores, because of the coronavirus lockdown.

The Group also has 437 concessions in Department stores such as Debenhams and Selfridges.

Oasis and Warehouse, together with other members of The Group , and The Idle man and Bastyan fashion, have in the administration.

the operations in Ireland, Sweden and worldwide, franchise-partners are not in the administration.

High Street retailer in the UK with a view to a difficult environment before The Crisis , due to rising costs and changes in people's shopping habits.

But the temporary closure of many shops while the Corona Virus pandemic has trade heaped more pressure on the tray.

Independent retail expert, Clare Bailey said retailers had already caved in under pressure for The Last two or three years, because of the uncertainty and its effect on consumer confidence.

"[Coronavirus] was The Last straw of all the straws that broke the camel's already Broken Back ," She Said .

Some retailers, such as Primark, decided to cancel contracts with their suppliers.

Meanwhile, fashion retailer New Look recently, its suppliers, informed that the payment for the shares, which are already sitting in the stores or the distribution Center has been delayed "indefinitely".

last week, the Department Store chain Debenhams, has about 22,000 employees, confirmed it management had entered for The Second Time In a year.

the 142 British stores remain closed, in accordance with the government advice and the company said it would work to open "and trade as many stores as possible," if restrictions to an end.

At the same time, floral fashion firm Cath Kidston filed for administration, putting 950 jobs At Risk .

Kathleen Brooks , a founder and managing Director of the consulting Minerva-analysis, said that while A Number of traders had to fight, for some time, "the difference now, it is not necessarily a buyer, to buy you, so that in this environment, you can go.

"you may cease to exist, because No One is willing to take a punt on the retail, which seems to be really in the epicenter of this coronavirus crisis from an economic point of view. "

Source of news: bbc.com