The team, which is owned by failed Icelandic lender Kaupthing, has been in dialogue with opportunity consumers about the previous few times. 

Drapers understands the team was not on the lookout for a sale amid its 3-12 months turnaround plan but experienced been approached by a opportunity customer. 

Administrators for Kaupthing launched a sale for the team, which then involved Karen Millen and Coast, back again in November 2016. Kaupthing then opted to withdraw from the sale procedure in 2017, right after the only remaining bidder was Emerisque Brands, a non-public equity agency.

“Like all businesses working in these unparalleled occasions, we continue to function on how we can best navigate by way of the recent hard situations next the Covid-19 outbreak,” a spokeswoman for the enterprise stated. “Whilst this remains a vital concentration for the enterprise, Oasis and Warehouse are potent brand names and we have really recently obtained inbound curiosity from strategically aligned functions about a opportunity transaction. We remain in dialogue with these functions, but there is no certainty at this stage that this will lead to a transaction.”

Kaupthing was nationalised during Iceland’s monetary crisis, concerning 2008 and 2011. It obtained the brand names in 2009 from Mosaic Fashions, which entered administration right after shareholder Baugur collapsed.