The owner of the Oasis and Warehouse fashion group says it has received interest from a potential buyer that could result in a sale of the brands.
The group, owned by Icelandic bank Kaupthing, is in the midst of a turnaround plan to transform its store portfolio, digital strategy as well as licensing, wholesale and international focus. In September it booked a rise in full-year sales and operating profit.
According to a spokesperson for the brands, the group was not looking for a sale but has been approached regarding a potential transaction and has appointed advisors to explore this further.
“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,” it said in a statement.
In 2017 a sale of the chains, which at the time included Coast, was called off. Coast then reached an administration buy-out deal with Karen Millen before both were bought last August by online retailer Boohoo.
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