Hundreds of jobs have been lost as women’s fashion retailers Oasis and Warehouse collapsed into administration.
The high street chains, with stores across Scotland and the rest of the UK, have appointed auditor Deloitte to run the process.
The news called into question around 2300 jobs at the shops, which also run concession stores, with 200 people made redundant on Wednesday.
However, the majority of workers are to be furloughed under the UK Government’s job retention scheme with 80% of their pay as administrators try to find a buyer. Online trading continues “in the short term”.
Hash Ladha, chief executive of Oasis Warehouse, said: “This is a situation that none of us could have predicted a month ago, and comes as shocking and difficult news for all of us.
“We as a management team have done everything we can to try and save the iconic brands that we love.”
The Oasis and Warehouse Group – owned by Icelandic bank Kaupthing – has been looking for a saviour for weeks, according to reports.
Administrators for the bank tried to launch a sales process over three years ago, but this was later abandoned.
The coronavirus pandemic is eating into high street businesses, which were already feeling the pinch before the outbreak started.
Debenhams last week entered administration for the second time in a year in a bid to protect itself during the shutdown.
The company’s 142 stores were already closed and most of the 22,000 members of staff on furlough before the owners pushed the business into administration.
The coronavirus crisis has also forced Flybe, Carluccio’s and BrightHouse to collapse.
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