850 jobs axed as Adams Childrenswear closes stores

UK: 850 jobs axed as Adams Childrenswear closes stores

By just-style.com | 5 January 2009

Five days after calling in the administrators, Adam's Childrenswear today (5 January) shut 111 stores with the loss of around 850 jobs.

The UK's largest independent children's wear retailer said its remaining 160 shops will stay open as administrators from PricewaterhouseCoopers try to sell the company.

PricewaterhouseCoopers blamed the decision on "the current downturn being experienced on the high street."

But joint administrator Rob Hunt said there have also been "a number of expressions of interest in the Adams business and brand.

"As a result, we are hopeful that we will be able sell some parts of the business."

Nuneaton-based Adams has an annual turnover of GBP150m (US$216m) and a number of concessions under the Adams Kids brand name. It also supplies a number of overseas franchises.

Administrators have not been appointed to Mini Mode Childrenswear, an associated group company with a joint venture agreement with retailer Boots to supply adult swimwear and children's wear under the Mini Mode brand.

Sectors: Apparel, Retail