Adams, the independent children’s clothes retailer, went into administration today following a period of difficult trading and problems securing credit. Paul Clark, of administrator MCR, said he had broken the news to staff at the retailer’s head office, amid concern about the jobs of more than 2,000 employees in 120 outlets around the UK.
Mr Clark said Adams would continue to trade normally while MCR considered the options for the business, which he would like to be able to sell. “The company is trading as normal at present while all options are considered,” Mr Clark said.
“This has involved contact being made with the essential suppliers, many of whom have been unpaid for some time. We are now looking at the viability of the business with a view to securing a going concern sale.”
Adams has been struggling for some time, with yesterday marking its third administration in as many years. Businessman Paul Shannon bought the business in 2009 and rescued it from administration again last year, before selling it on to the Pakistani firm Habib Alvi. Since then, it has been dogged by reports of falling sales and delayed payments to suppliers.
However, Adams has a long history as an independent retailer. Founded 75 years ago, at its height it had more than 270 Adams Kids stores, and is now based in Nuneaton. It also supplies Boots with its own brand Mini Mode range.Reuse content