This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
#Open journalism No news is bad news

Your contributions will help us continue to deliver the stories that are important to you

Support The Journal
Dublin: 14 °C Monday 3 August, 2020
Advertisement

Irish arm of Oasis and Warehouse to be wound up leading to loss of almost 250 jobs

The two companies had operated 13 stores and 29 concession stands in Ireland.

Oasis storefront on St Stephen's Green.
Oasis storefront on St Stephen's Green.
Image: Google Maps

THE HIGH COURT has made orders confirming the winding up of the Irish arm of related fashion outlets Oasis and Warehouse, which employed some 248 people.

The order was made today by Mr Justice Michael Twomey in respect of Oasis Fashions Ireland Ltd, and Warehouse Fashion Ireland Ltd, which the court heard is part of the Aurora Fashions group, owned by the Icelandic Kaupthing Bank.

The judge, who said he was satisfied the firms are insolvent, also confirmed the appointment of Ken Fennell and James Anderson of Deloitte Ireland as joint liquidators of the two related companies.

They were appointed on a provisional basis by the High Court last month. The two companies had operated 13 stores and 29 concession stands in Ireland.

The appointment of liquidators came after administrators were appointed to its UK parent a month ago.

Seeking the joint liquidators’ appointment Kelley Smith Bl instructed by Barry Cahir of Beauchamps Solicitors, for the company said that the firms had been trading in what has become a difficult environment.

Those difficulties had been exacerbated with the outbreak of the Covid-19 pandemic, counsel added.

Counsel said group had been seeking a buyer, but the impact of the Covid-19 which had resulted in the closure of high street stores in late March, ended prospects of securing fresh investment, despite the fact there had been several expressions of interest.

#Open journalism No news is bad news Support The Journal

Your contributions will help us continue to deliver the stories that are important to you

Support us now

The group’s decision to enter administration meant the Irish firms could no longer avail of certain services from its parent, such as HR, IT and the sourcing of stock, which they required to continue to trade.

Brian Conroy Bl for the liquidators said that since their appointment they have been taking steps to ensure an orderly wind down of the business.

Counsel said had been engaging with the firm’s creditors which includes its employees, landlords of the stores the stores had operated from, and Revenue.

  • Share on Facebook
  • Email this article
  •  

About the author:

Aodhan O Faolain

Read next:

COMMENTS (27)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel