Oasis and Warehouse go into administration

About 2,000 workers across 92 stores and 437 concessions are affected by the announcement, and 200 people will sadly lose their jobs immediately. (If you're affected, see our Redundancy Help guide.) Administrators Deloitte said most employees of the firms – which had the same owner – will remain furloughed for now.

The news comes just days after department store giant Debenhams went into administration.

For more on dealing with the day-to-day fallout of the coronavirus pandemic, see our Coronavirus Life-in-Lockdown Help guide. See our Coronavirus Employment guide for help and information regarding furloughing and more.

What will happen with returns, online orders and gift cards?

If you're an Oasis or Warehouse customer, here are the key need-to-knows:

• Items bought before 10am on Wednesday 15 April can no longer be returned. Oasis and Warehouse say if you bought something in-store or placed an online order before 10am on Wednesday 15 April, you won't be able to return it, or get a refund or exchange. This policy extends to faulty goods too. However, customers will be able to return items purchased after 10am on Wednesday 15 April.

  If you bought a product before 10am on Wednesday 15 April on a debit or credit card and it turned out to be faulty, you can try to claim from your card provider (via the Section 75 or chargeback schemes), though there's no guarantee of success.

• Gift cards and vouchers will sadly no longer be accepted. You can try to claim the balance back against the administration – but you're unlikely to get much back. If you bought the gift card on a debit or credit card you could also try to claim from your card provider via the Section 75 or chargeback schemes, but again there's no guarantee of success.

• Existing online orders will be honoured. Oasis and Warehouse stores were already closed as a result of coronavirus, but despite administration the chains will continue to trade online for the time being. That means if you've ordered an item you should expect your order to be honoured, though as above, for orders placed before 10am on Wednesday 15 April, no returns, refunds or exchanges will be accepted.

• If you're considering purchasing something now, carefully weigh up the risk. At the very least, use a debit card (or a credit card if spending over £100) to ensure you have some extra protection – that way, if the worst happens and your order doesn't arrive, you should be able to make a claim from your card provider via the Section 75 or chargeback schemes.

What does the Oasis Warehouse Group say?

Oasis Warehouse Group chief executive Hash Ladha said: "This is a situation that none of us could have predicted a month ago, and comes as shocking and difficult news for all of us. We as a management team have done everything we can to try and save the iconic brands that we love.

"I am confident that my colleagues, together with Deloitte, will find the best outcome for the business. They have my thanks and my best wishes."

Rob Harding, joint administrator at Deloitte, added: "Covid-19 has had a devastating effect on the entire retail industry and not least the Oasis Warehouse Group.

"Despite management's best efforts over recent weeks, and significant interest from potential buyers, it has not been possible to save the business in its current form."