We want everyone to enjoy using our site but spam, bullying and offensive comments will not be tolerated. Even Boots - an essential shop at this time with stores continuing to stay open - has closed 60 branches temporarily. Editor-in-Chief, Marcus Herbert. We think it's important you understand the strengths and limitations of the site. Elsewhere on the high street footwear chain Clark's said last week a small number of its 347 stores may never open again once the lockdown is over. The worrying figures emerged despite the scheme already being overhauled once earlier this month when firms complained they could not access the cash. Warehouse & Oasis have fallen in to administration - all stores will close (Image: Getty Images) The two brands are owned by Oasis Warehouse Limited… And thousands of jobs at Debenhams may be at risk after the High Court ruled its administrators could be liable for furloughed staff's full wages. Peter Jones (China) The gifts and homeware retailer went into administration in mid-July. Just 4,200 companies have been able to get the Government's emergency bailout loans – out of 300,000 applicants. One element is the 'decoy effect' – where a higher-priced item is sold, to make items next to it look like bargains. Update September 2017: It’s eight years since I first braved this subject, expecting a snowstorm of protest. Put another log on, won't you? High-street fashion chains Oasis and Warehouse have collapsed into administration, putting 2,000 workers at risk across 92 branches and 437 concessions. The coronavirus pandemic is expected to change the look of high streets for ever, with famous names like Laura Ashley having already gone. The latest casualties could well be Warehouse and Oasis, two British fashion stalwarts which are owned by Icelandic bank Kaupthing, and look set to go into administration … The numbers reflect the concerns of economists who have said the economy may be shrinking at a faster rate than the Great Depression of the 1930s. The Corbyn crony who plunged Wales into lockdown: First Minister Mark Drakeford backs 'radical socialist... Noel Gallagher is slammed for 'breaking strict Covid rules in London by partying with friends past 10pm' at... Pizza offering! But by 9am the website had closed again, saying it had already received all the orders it could process for the day, but it would return tomorrow. The retailer's 142 UK stores remain closed in line with Government guidance and the company has said it will work to 're-open and trade as many stores as possible' when restrictions are lifted. When corona started and we were asked to close our doors, which is totally understandable because of safety, nobody really addressed the issue of the rents. ': Furious father strips down to his PANTS before attempting to enter... November Black Friday sale? Mr Smith said that 'unsurprisingly' Debenhams' business has been 'very severely impacted by the Government-required closure of its retail estate'. According to Sky News, staff have been told they will not receive statutory redundancy pay from the company. Around £800million has been handed out under the package – a figure which pales in comparison with £146billion provided to 725,000 firms in the US. Debenhams appointed administrators last week for the second time in the past 12 months. Within the last week, we've seen the extension of coronavirus credit card, personal loan and overdraft help to 31 October 2020, with mortgage payment holidays already extended. Laura Ashley, meanwhile, was one of the first to announce they were in trouble after the coronavirus crisis took hold. MoneySavingExpert.com is part of the MoneySuperMarket Group, but is entirely editorially independent. 'Many, many have not been paying rents. The fee for plastic carrier bags is set to double to 10p in England from April next year, with the charge also being extended to smaller shops, Tesco has started charging flat fees for grocery delivery and Click & Collect slots, in a major shake-up which means cheaper times are no longer available and some customers will have to pay much more, Secondary ticket seller Stubhub is now warning people that tickets bought on its site "may not get them into an event", after action from the competition watchdog, Morrisons will remove all plastic 'bags for life' from sale and replace them with large paper bags if a trial is successful. Did you remember? Home of the Daily and Sunday Express. The fashion chains Oasis and Warehouse are … We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. At the same time confidence among UK consumers, already low due to political uncertainty over Brexit, plunged at the most rapid rate since records began in 1974. Deal talks with prospective buyers fell through with the uncertainty caused by the pandemic thought to have made a sale impossible to conclude, reported Sky News. Please contact email@example.com if you wish to report any comments. Women's fashion chains Oasis and Warehouse shut all 90 of their UK stores due to the virus, But, following a remote hearing on Wednesday, Mr Justice Trower refused to make a declaration, saying: 'I think it is likely that the participation by companies in administration in the JRS and the payment of equivalent amounts to furloughed employees ... means that the contracts of employment ... will have been adopted by the administrators.'. More than two-thirds of the loans, 2,500 in total, have been approved by state-owned bank RBS. ", READ MORE: Next UK to reopen stores and launch sale - where shops will open. Instead, year after year more join in, like Julia who recently tweeted me, “@MartinSLewis, finally took your advice and told my family I can’t afford Christmas presents. HIGH street fashion giants Oasis and Warehouse could be set to plunge into administration in less than 24 hours, putting more than 2,000 jobs at risk. High-street fashion chains Oasis and Warehouse have collapsed into administration, putting 2,000 workers at risk across 92 branches and 437 concessions. We're a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong. How much should you be saving for your kids to go to uni? Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. Top 15+ holiday destinations from the UK – where can you still travel to? For more on dealing with the day-to-day fallout of the coronavirus pandemic, see our Coronavirus Life-in-Lockdown Help guide. Lord Mervyn King, former governor of the Bank of England, said: 'Something has gone wrong. Others have got into arrangements with their landlords, but this has not been solved. However, lawyers representing FRP said it may be forced to make 'a large part of the significant number of employees of Debenhams' redundant if it is responsible for staff wage liabilities. High street shops face ticking time bomb over unsold stock. But he added that FRP are 'unlikely to be able to justify continuing to employ the furloughed employees ... if there is exposure to liabilities for wages or salary - enjoying super-priority over other claims - over and above those that will be reimbursed under the JRS'. Prince Andrew working out 'how he can serve the monarchy' as he maps out return to royal duties, ALEXANDRA SHULMAN'S NOTEBOOK: The biggest victim in the war on cars is your granny, Confused by the three-level tier system? Desperate stores have already started slashing prices to tempt Covid-weary... Democracy has been our bedrock for centuries - but I now fear it is at risk from divisions over Covid,... Now prepare for Tier 4: Fresh plans to add an extra level of Covid restrictions that would close restaurants... DAN HODGES: If Dishy Rishi doesn't get his golden touch back it could all end in Tiers. Here are the local alerts explained, Support for your immune health from an innovative supplement - a story of gut instinct, SIR ROCCO FORTE: Matt Hancock's ineptitude is bankrupting my industry - it's time he was sacked, Learn more about how to help people impacted by COVID, Coronavirus: Oasis and Warehouse collapse threatens 2,300 jobs | Business News | Sky News, Gyms face legal action over rent - BBC News. Express. The chain's chief executive Glenn Earlham told BBC News : 'This situation is unfortunately entirely outside of our control. Figures last week also showed how the rot caused by widespread closures and social distancing measures was spreading into manufacturing and construction. He said yesterday: 'A worrying number have decided to pursue statutory demand notices or winding up orders. However, it was announced rescue talks were stopped due to the coronavirus outbreak. Rob Harding, joint administrator at Deloitte, added: "Covid-19 has had a devastating effect on the entire retail industry and not least the Oasis Warehouse Group. The retail giant closed its online operations in late March amid the coronavirus crisis, following criticism from staff who felt unsafe at work. Banks have been overwhelmed by demand since the launch of the Coronavirus Business Interruption Loans Scheme last month.
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