Fashion retail business failures continue - no surprise, but where will it end?

The news that Oasis Warehouse goes into administration is, unfortunately, no surprise. Many more will undoubtedly follow. 

The mid-market fashion retail sector is over-supplied and has suffered from being sub-scale and over-leveraged for some time. Many businesses were not in great shape before Covid-19 and the crisis has accelerated the inevitable by 3-5 years in as many months.

Only those with relevant customer propositions, digital scale and strong balance sheets will survive. In fact, for those players, the opportunity to build market share, acquire valuable brand and human assets is huge - carpe diem!

One thing that is for sure, the UK fashion sector will look very different in a few months. Fewer brands on the high street, fewer department stores, accelerated digital channels and new consumer behaviours. Those that think through how to effectively restart their businesses and rebuild revenues in this 'new normal' will prosper and grow. 

The ability to step out of crisis mode and plan for the future will define the winners. After all, it is much easier to stop business than get it moving again. Those that get this right will reap the rewards.