Liquidators appointed to Irish arm of Oasis and Warehouse
Posted on 11th May 2020 at 21:01
Fashion outlets employed 248 people at 13 stores and 29 concession stands in Ireland
The High Court has made orders confirming the winding up of the Irish arm of related fashion outlets Oasis and Warehouse, which employed 248 people.
Mr Justice Michael Twomey made the orders yesterday in respect of Oasis Fashions Ireland Ltd and Warehouse Fashion Ireland Ltd, part of the Aurora Fashions group owned by the Icelandic Kaupthing Bank.
The judge, who said he was satisfied the firms are insolvent, confirmed the appointment of Ken Fennell and James Anderson of Deloitte Ireland as joint liquidators of the two companies.
The liquidators 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, Beauchamps Solicitors, for the company, said the firms had been trading in a difficult environment.
Those difficulties had been exacerbated with the outbreak of the Covid-19 pandemic, counsel said. Counsel said the group had been seeking a buyer but the impact of Covid-19, which resulted in the closure of high street stores in late March, ended prospects of securing fresh investment despite several expressions of interest.
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, for the liquidators, said they have been taking steps to ensure an orderly wind down of the business and had been engaging with the firm’s creditors, including employees, landlords and the Revenue.
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