Joel Kempson, personal finance expert at money.co.uk said : "Oasis and Warehouse join a growing list of businesses pushed to breaking point by Covid-19. The pandemic has already caused major household names like Flybe, Debenhams, Laura Ashley, Carluccios and Brighthouse to collapse.
"Oasis and Warehouse have battled on throughout difficult high street trading conditions, even posting record sales figures in 2019, but with the closure of stores and added strain of COVID-19 the administrators have been called in.
"While the future looks uncertain for its 2,300 employees, many should benefit from the Coronavirus Job Retention Scheme following the landmark High Court ruling. This will pay employees 80% of their wage while the company looks for a buyer. However, staff should still check their redundancy rights and dig out any income or mortgage protection policies they may hold, just in case.
"Unfortunately, it's currently unknown whether Oasis and Warehouse will honour gift vouchers and refunds. If items were purchased using a credit card, you will be covered by Section 75 of the Consumer Credit Act for items costing £100 to £30,000.
"For debit card payments you may be able to claim through the Chargeback scheme that lets you claim a refund for goods that have not arrived or arrived damaged, goods that are different to how they were described, or if the merchant stops trading."
Employees worried about their redundancy rights should read the money.co.uk guide for more information: https://www.money.co.uk/guides/your-redundancy-rights.htm
For customers worried about their rights now that Oasis and Warehouse has gone into administration, read the money.co.uk guide for more information: https://www.money.co.uk/guides/your-rights-if-a-retailer-goes-into-administration.htm
money.co.uk has launched a dedicated coronavirus hub to support people worried about their finances during the crisis.