It has been reported that the Icelandic bank that own Coast, Warehouse and Oasis, Kaupthing, has entered administration and are seeking buyers for the British brands.
Kaupthing, who purchased the brands in 2009 from Mosaic Fashions after they went under during the financial crisis, now need to offload its assets to potential buyers.
In early 2017, the bank are asking for a mandate to auction its UK retail assets, however due to the slow UK fashion market the valuation for brands is low and has been valued at less than £100 million between them.
It has also been reported that more than 5000 staff could be affected across the brands.
