Adams stores under threat
CHILDRENSWEAR retailer Adams went into administration for the second time in little more than a year yesterday, casting doubt over 2,000 jobs.
Adams which now has fewer than five stores in the Province, was rescued from collapse last January by JS Childrenswear, but that company is now under the control of administrators MCR.
The retailer, which has more than 120 stores in the UK, also supplies Boots with the Mini Mode own brand range.
Administrators said “all options” were being considered for the business and said staff were “understandably concerned”.
Paul Clark and Matt Bond, Partners at MCR, have been appointed joint administrators of JS Childrenswear Limited together with Ian Yerrill of Gerald Edelman on 22nd January 2010.
Operating from its base in Nuneaton, Adams is one of the largest independent childrenswear retailers in the UK, which at its height had 271 own brand stores and concessions throughout the UK trading under Adams Kids.
In January 2009 the business and assets of Adams Childrenswear Limited was sold to JS Childrenswear Limited, a newly formed company backed by John Shannon, following a period in administration.
More recently, Mr Shannon sold the company to Habib Alvi Investments Limited under the control of a Mr Syed Sabur Ali.
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Tuesday 14 February 2012
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