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Court confirms liquidators to Irish arm of Oasis, Warehouse

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Liquidation: Oasis and Warehouse ran 13 stores and 29 concession stands

Liquidation: Oasis and Warehouse ran 13 stores and 29 concession stands

Liquidation: Oasis and Warehouse ran 13 stores and 29 concession stands

THE High Court has confirmed the appointment of liquidators to the Irish arm of related fashion outlets, Oasis and Warehouse.

The order was made yesterday by Mr Justice Michael Twomey in respect of Oasis Fashions Ireland Ltd, and Warehouse Fashion Ireland Ltd, which the court heard is part of the Aurora Fashions group and owned by the Icelandic Kaupthing Bank.

It employs 248 people.

The judge, who was satisfied the firms are insolvent, confirmed the appointment of Ken Fennell and James Anderson of Deloitte Ireland as joint liquidators of the two related companies.

They were appointed on a provisional basis by the 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 appointment, Kelley Smith Bl, instructed by Barry Cahir, of Beauchamps Solicitors, for the company, said that the firms had been trading in a difficult environment.

Those difficulties had been exacerbated with the outbreak of the Covid-19 pandemic, she said.

Counsel said that the group had been seeking a buyer, but the impact of the pandemic, which had resulted in the closure of high street stores in late March, had ended prospects of securing fresh investment despite the fact there had been several expressions of interest.

The group's decision to enter administration meant the Irish firms could no longer avail of certain services from their parent, such as HR, IT and the sourcing of stock, which they required to continue to trade.

Brian Conry Bl, for the liquidators, said that since their appointment they have been taking steps to ensure an orderly wind-down of the business.

Counsel said they had been engaging with creditors which includes its employees, landlords and Revenue.

Irish Independent