Wed, 25 Mar 2020 | BUSINESS SALE
Icelandic-owned UK women’s fashion retailers Oasis and Warehouse are reported to be exploring a sale, appointing administrators from Deloitte to hold talks with potential buyers.
The coronavirus pandemic has prompted the UK government to mandate the shuttering of all non-essential retailers, such as fashion stores, for at least three weeks.
Icelandic lender Kaupthing, which owns the stores, had initially tried to sell them in 2017, but withdrew from the sales process after reportedly not attracting bids that met its valuation.
A Kaupthing spokesperson said: “Like all businesses operating in these unprecedented times, we continue to work on how we can best navigate through the current challenging circumstances following the Covid-19 outbreak.”
“Whilst this remains a key focus for the company, Oasis and Warehouse are strong brands and we have very recently received inbound interest from strategically aligned parties regarding a potential transaction.”
“We remain in dialogue with these parties, but there is no certainty at this stage that this will lead to a transaction.”
Oasis and Warehouse Group presently employ around 2,300 staff and trade from 90 standalone locations and 437 concessions in department stores.
In the group’s most recent accounts, to the year ending March 2 2019, it reported gross profit of £173 million on total turnover of £293.2 million. At the time, the group held total current assets of £66.2 million.
Last year, Kaupthing sold UK fashion retailers Karen Millen and Coast to Boohoo in an £18.2 million deal, with Deloitte also acting as administrator on that occasion.
The company is a retailer of used cars, operating a popular e-commerce website that attracts customers nationwide. The business sells high-quality used vehicles, offering a comprehensive range of popular makes and models, and all its vehicles are ful...
LEASEHOLD
Established business with nationwide reputation. A client base offering extensive market-leading product range from well-fitted industrial warehouse, as well as office premises in convenient commercial location.
FREEHOLD
Very established craft bakery with impressive reputation and regular customer base offering wide range of premium quality products.
LEASEHOLD
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
28
|
Mar
|
Vehicle upcycling group falls into administration | ADMINISTRATION
Lunaz Group Limited, a vehicle electrification and upcycling...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
21
|
Jul
|
Discount retail chain JTF falls into administration | ADMINISTRATION
JTF Mega Discount Warehouse has fallen into administration a...
01
|
Dec
|
Arcadia collapses into administration | ADMINISTRATION
Sir Philip Green’s Arcadia, the group behind retailers...
15
|
Oct
|
Gourmet Burger Kitchen acquired by Boparan in deal that sees 26 sites close | BUSINESS SALE
Gourmet Burger Kitchen has been acquired by Boparan Restaura...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.