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adams facing administration

looks like adams will be next to go how many more shops gonna go

Quote:

UK childrenswear retailer Adams has applied to go into administration, the BBC has learned.

It joins a growing list of well-known chains going to the wall as retailers struggle, including Zavvi, MFI, Whittard and Woolworths.

Adams has 260 outlets in its UK chain and 166 internationally, employing about 2,000 people.

The firm was bought early last year by Northern Ireland businessman John Shannon, who closed 42 branches.

Adams has now applied to the administrators' court, but has yet to be officially placed in administration.

PriceWaterhouse Coopers (PWC) are likely to be appointed administrators and take over the running of Adams until a new owner can be found.

A spokeswoman for PWC could not tell for sure when it would be formally appointed.

Insolvency fears

"They put the thing into court on Christmas Eve but I cannot really say much more than that," she said.

The company, which is celebrating its 75th year, was originally founded in Birmingham.

Adams also makes clothes for health and beauty retailer Boots.

The insolvency experts Begbies Traynor predicted only a week ago that up to 15 national retail chains would go bust by mid-January.

Adams aint really to big of a company, but its gonna mean yet another empty shop downtown

its sad the amount of shops that are going under now

Quote:

Originally posted by Tom
its sad the amount of shops that are going under now

I agree, especially when you think of all the jobs.

Though I think Adams has been a sinking ship for years.

Adams? Never heard of that. :/ But more importantly, it's a shame for people who keep losing jobs because of all this high street mess.

am still getting over the whole woolworths thing, its hard to imagine there not being a woolworths anymore!!!:bored::bored:

:xyxwave:

I haven't shopped at Adams for over 20 years.