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Oasis and Warehouse are both on the brink of collapse, as they reportedly prepare to appoint a third party to manage the insolvency process.
Sky News reported on Tuesday that the fashion brands known collectively as the Oasis and Warehouse group, are the latest victims of the coronavirus downturn on the high street after being forced to shut shops last month.
If the fashion chains do appoint Deloitte, as is reported, it could risk 2,000 jobs at the brands, which are owned by Icelandic lender Kaupthing.
At least two prospective buyers are thought to have come forward with a deal for the group, but it is now unlikely to be finalised before the imminent administration.
The uncertainty around the Covid-19 outbreak has reportedly made the sale impossible to conclude quickly.
The group employs 2,300 people and has over 90 standalone stores and a further 437 concessions in department stores around the UK, including Selfridges and Debenhams.
Debenhams itself has been facing problems in recent weeks: last Monday it confirmed it would be calling in the administrators due to continued poor trading.
Created with Sketch.
Created with Sketch.
1/20
Westminster Bridge stands deserted on the morning after Boris Johnson announced the UK was in lockdonw
PA
2/20
The clock tower in Leicester on the day after the prime minister put the UK in lockdown
PA
3/20
The A23 north of Brighton is relatively empty on the morning after the prime minister put the UK in lockdown
AFP/Getty
4/20
The Bullring in Birmingham on the day after the prime minister put the UK in lockdown
PA
5/20
A sign informing residents that bingo is cancelled for the forseeable future in Eyam, Derbyshire
AFP/Getty
6/20
Empty streets in Skegness the day after the prime minister put the UK in lockdown
PA
7/20
Reverend Paul Unsworth prepares food parcels for the homeless in London
Getty
8/20
Streets of Windsor are deserted on the morning after the prime minister put the UK in lockdown
AP
9/20
The Greyfriars Bobby statue in Edinburgh after Boris Johnson urged the public to stay indoors
Getty
10/20
Gallowtree Gate in Leicester on the day after the prime minister put the UK in lockdown
PA
11/20
An isolated couple watch the prime minister's announcement that the UK is to be put in lockdown in Weybridge, Surrey
Reuters
12/20
People jog in Battersea Park in London the morning after the prime minister announced the UK is going into lockdown with people only allowed outside for essentials and daily exercise
Reuters
13/20
McDonald's on High Wycombe High Street High Street displays a sign for takeaway only shortly before closing indefinitely as the prime minister announced that the UK is tto be put in lockdown
Getty
14/20
Deserted streets of Bristol after Boris Johnson urged people to stay indoors
Tom Wren/SWNS
15/20
Kathryn Hadley and her husband David who are in self-isolation in their home in Clutton, Somerset. David has terminal cancer and Kathryn is in a wheelchair
Tom Wren/SWNS
16/20
Residents of Marsden, West Yorkshire head home from the shops on the day Boris Johnson urged the public to stay indoors
AFP/Getty
17/20
Dennis's kebab van remains open for business in a deserted High Wycombe High Street as the prime minister announces that the UK is to enter lockdown
Getty
18/20
Drawings of rainbows stuck on a tree in Davenham, Cheshire
Reuters
19/20
Terminal 5 at Heathrow Airport in London after the prime minister announced the UK is to enter lockdown
PA
20/20
Deserted streets of Bristol after Boris Johnson urged people to stay indoors
Tom Wren/SWNS
1/20
Westminster Bridge stands deserted on the morning after Boris Johnson announced the UK was in lockdonw
PA
2/20
The clock tower in Leicester on the day after the prime minister put the UK in lockdown
PA
3/20
The A23 north of Brighton is relatively empty on the morning after the prime minister put the UK in lockdown
AFP/Getty
4/20
The Bullring in Birmingham on the day after the prime minister put the UK in lockdown
PA
5/20
A sign informing residents that bingo is cancelled for the forseeable future in Eyam, Derbyshire
AFP/Getty
6/20
Empty streets in Skegness the day after the prime minister put the UK in lockdown
PA
7/20
Reverend Paul Unsworth prepares food parcels for the homeless in London
Getty
8/20
Streets of Windsor are deserted on the morning after the prime minister put the UK in lockdown
AP
9/20
The Greyfriars Bobby statue in Edinburgh after Boris Johnson urged the public to stay indoors
Getty
10/20
Gallowtree Gate in Leicester on the day after the prime minister put the UK in lockdown
PA
11/20
An isolated couple watch the prime minister's announcement that the UK is to be put in lockdown in Weybridge, Surrey
Reuters
12/20
People jog in Battersea Park in London the morning after the prime minister announced the UK is going into lockdown with people only allowed outside for essentials and daily exercise
Reuters
13/20
McDonald's on High Wycombe High Street High Street displays a sign for takeaway only shortly before closing indefinitely as the prime minister announced that the UK is tto be put in lockdown
Getty
14/20
Deserted streets of Bristol after Boris Johnson urged people to stay indoors
Tom Wren/SWNS
15/20
Kathryn Hadley and her husband David who are in self-isolation in their home in Clutton, Somerset. David has terminal cancer and Kathryn is in a wheelchair
Tom Wren/SWNS
16/20
Residents of Marsden, West Yorkshire head home from the shops on the day Boris Johnson urged the public to stay indoors
AFP/Getty
17/20
Dennis's kebab van remains open for business in a deserted High Wycombe High Street as the prime minister announces that the UK is to enter lockdown
Getty
18/20
Drawings of rainbows stuck on a tree in Davenham, Cheshire
Reuters
19/20
Terminal 5 at Heathrow Airport in London after the prime minister announced the UK is to enter lockdown
PA
20/20
Deserted streets of Bristol after Boris Johnson urged people to stay indoors
Tom Wren/SWNS
The department store chain appointed administrators from the FRP Advisory to oversee the process.
Debenhams employs more than 20,000 staff across the UK. Most are being paid under the government’s furlough scheme, which covers up to 80 per cent of wages for three months.
Retailers are facing increasing problems - having been forced to close shops in what was an already difficult retail climate, as well as keep up with demand for online orders.
Next was one of the first to shut down its website in order to address safety concerns over warehouses fulfilling the orders.
The site reopened on Tuesday but only for 90 minutes before reaching capacity.
Other e-tailers, including ASOS, have been accused of not managing social distancing properly in warehouses and putting staff at risk.