Kids' clothing store back in administration (From Herald Series)

Kids' clothing store back in administration

10:55am Monday 25th January 2010

• Print
• Email
• Share

Childrens clothing store Adams has been taken into administration for the third time in three years.

More than 30 jobs are under threat at chain which has stores in Crown Walk, Bicester and Woolgate, Witney.

Adams was first bought out of administration by Northern Ireland businessman John Shannon in February 2007. He stepped in again when it ran into problems just over a year ago and he sold it to Habib Alvi Investments.

At the time, the Abingdon branch of the business was closed.

Paul Clark, a partner at administrators, MCR, said: “Like many retailers, it has experienced a difficult trading environment during the course of the past 12 months which has been exacerbated by a further downturn and general tightening of the credit markets.”

“We fully appreciate the difficult position in which the staff find themselves so soon after Christmas.

“The company is trading as normal at present while all options are considered. We are now looking at the viability of the business with a view to securing a going concern sale.”

The problems at Adams follow the colapse of off licence chain operator First Quench with the loss of more than 100 Oxfordshire jobs and the closure of Borders book store in Oxford and Books Etc in Bicester which saw more than 50 staff axed.

• Print
• Email
• Share