Clothing brands, Oasis and Warehouse are reportedly on the brink of falling into administration.
Sofie Willmott, Lead Analyst at GlobalData, a leading data and analytics company, offers her view on this news;
“The lack of distinct design handwriting at Oasis and Warehouse, coupled with fierce competition from online pureplays and Zara, alongside their exposure to the struggling department store channel has left the brands in trouble. With clothing & footwear expected to be the worst hit UK retail sector this year with spend forecast to fall by over 20%, the COVID-19 pandemic is reportedly set to claim two more victims in Oasis and Warehouse this week.
“Despite Warehouse improving its fashion credentials over the last couple of years and Oasis bolstering its marketing campaigns using celebrities such as Frankie Bridge and Katie Piper, the brands have failed to stand up against stronger players that are more front of mind amongst their target customer base. As demand for clothing continues to be decimated by a lack of social occasions, we expect to see further high street casualties over the coming month.”