High-street fashion chains Oasis and Warehouse have collapsed into administration, placing 2,300 jobs at risk. Accountancy firm Deloitte has been hired to handle the insolvency process, which will affect all 92 branches and 437 concessions.
The collapse comes just three weeks after The Oasis and Warehouse Group - owned by failed Icelandic lender Kaupthing - started discussions with prospective buyers.
Under current guidelines, furloughed staff at insolvent firms can to be paid by the Government's job retention scheme, meaning around 1,801 workers will continue to be paid until at least the end of June.
However, 202 members of staff have been laid off with immediate effect following today's announcement. Around 42 have been retained.