Over 2,000 jobs at risk as Oasis and Warehouse eye administration

Thousands of jobs could be put at risk as two British high street chains prepare to call in administrators.

Oasis and Warehouse, which run 90 stores across the country, are expected to appoint big four auditor Deloitte to run the process on Tuesday or Wednesday.

The news, which was first reported by Sky News, calls into question around 2,300 jobs at the shops, which also runs hundreds of concession stores.

However, workers are likely to be furloughed under the Government's job retention scheme with 80% of their pay during the administration until a buyer can be found for the company.

The Oasis and Warehouse Group has been looking for a saviour for weeks, according to reports.

It is owned by Kaupthing, the failed Icelandic bank.

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 British 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 company said at the time: "This move will protect Debenhams from the threat of legal action that could have the effect of pushing the business into liquidation while its 142 UK stores remain closed in line with the Government's current advice regarding the Covid-19 pandemic."

The coronavirus crisis has also forced Flybe to close its doors, and Carluccio's and BrightHouse have also collapsed.

Other businesses are hoping to be able to re-open their doors when the lockdown is lifted.

Britons have been told to remain at home, and only to go out to buy essential food and medical supplies, or for one piece of daily exercise.

All non-essential stores have been forced to close, with the government promising to support businesses by picking up parts of their payroll, and backing loans.