UK-based online fashion retailer Boohoo recently agreed to buy for £5.25 million ($6.60 million) the online businesses of the Oasis and Warehouse Group, which went into administration in April with the loss of 1,800 jobs. The brand and stock were bought by Hilco Capital, which has now sold the assets to Boohoo. However, no buyer for the stores could be found.
The Oasis and Warehouse Group was forced to shut its 90 UK stores because of the lockdown resulting from the pandemic. The group also had 437 concession points in department stores like Debenhams and Selfridges.UK-based online fashion retailer Boohoo recently agreed to buy for £5.25 million ($6.60 million) the online businesses of the Oasis and Warehouse Group,which went into administration in April with the loss of 1,800 jobs. The brand and stock were bought by Hilco Capital, which has now sold the assets to Boohoo. However, no buyer for the stores could be found.#
Boohoo has been buying struggling brands like MissPap, Karen Millen and Coast in recent times.
Separately, Boohoo forecast annual results to be ahead of market expectations after first-quarter revenue jumped by 45 per cent, according to British media reports.
ALCHEMPro News Desk (DS)
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