Oasis and Warehouse are reportedly facing collapse as the Covid-19 pandemic continues to threaten the high street.

According to a Sky News report, the latest news comes just three weeks after The Oasis and Warehouse Group, which employs 2,300 people across the UK and Ireland, began discussions with a prospective buyer. However, the widespread uncertainty born of the Covid-19 pandemic made it impossible to conclude a solvent sale. It is understood that the women's retailers are due to appoint accountancy firm Deloitte to handle the insolvency process, with the latter expected to furlough many of the employees who keep their jobs under the government's Coronavirus Job Retention Scheme. During the initial stages of the sale process, a statement by the retailer made reference to the difficulties facing the industry: "Like all businesses operating in these unprecedented times, we continue to work on how we can best navigate through the current challenging circumstances following the Covid-19 outbreak." Talks with prospective bidders are reportedly set to continue following Deloitte's appointment. Prior to the lockdown, The Oasis and Warehouse Group traded from 90 stores and more than 400 concessions in larger department stores, including Debenhams and Selfridges. Last week, Debenhams announced that its UK stores had gone into administration while its Irish business was liquidated. The announcement marked the second time in 12 months that Debenhams had entered into administration. Following the lockdown imposed by the government, both Warehouse and Oasis had continued to trade online. As of yesterday, neither Deloitte nor The Oasis and Warehouse Group, which is run by Hashim Ladha a former executive at Sir Philip Green's Arcadia Group, had commented on reports. It is, however, expected that an announcement will be made today.