Adams poised for administration

Thread: Adams poised for administration

  1. Welsh Pete's Avatar

    Welsh Pete said:

    Default Adams poised for administration

    Adams 'poised for administration'


    It has been a tough few months for well-known retailers

    UK childrenswear retailer Adams has applied to go into administration, the BBC has learned.
    The firm has applied to the administrators' court but has yet to be officially placed in administration.
    Adams, which has 260 outlets in its nationwide chain and 166 outside the UK, employs about 2,000 people.
    It joins a growing list of well-known chains going to the wall as retailers struggle, including Zavvi, MFI, Whittard and Woolworths.
    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.
    "They put the thing into court on Christmas Eve but I cannot really say much more than that," she said.
    Insolvency fears
    Adams is currently owned by the Northern Ireland businessman John Shannon, who bought the company early last year and closed 42 branches at the time of purchase.
    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.


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  2. blaggard's Avatar

    blaggard said:

    Default Re: Adams poised for administration

    First time I've ever heard of them!
    If at first you don't succeed.....redefine success. . . .

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  3. rmj2663's Avatar

    rmj2663 said:

    Default Re: Adams poised for administration

    Quote Originally Posted by blaggard View Post
    First time I've ever heard of them!
    Maybe its a Birmingham thing, they are all over the place up here. Then again if you haven't any kids you could blissfully ignore the place.
     
  4. blaggard's Avatar

    blaggard said:

    Default Re: Adams poised for administration

    Kids? what are they?
    If at first you don't succeed.....redefine success. . . .

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  5. spiderbites's Avatar

    spiderbites said:

    Default Re: Adams poised for administration

    My missus loves shopping in there for the little un
     
  6. Mule's Avatar

    Mule said:

    Default Re: Adams poised for administration

    2,000 staff and 466 stores? Only 4 people per store?
     
  7. 4me2's Avatar

    4me2 said:

    Default Re: Adams poised for administration

    I've never heard of them.
    There are 3 types of people in the world - those who make things happen, those who watch things happen; and those who wondered what happened.

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  8. B B Leo's Avatar

    B B Leo said:

    Default Re: Adams poised for administration

    they used to be big in the 90s clothes where focking dear
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