Adams 'poised for administration'

[bobhope]

During the boom, everybody bought their kids clothes from Baby Gap

[AtW]

Yup, council tax from business will plummet soon, and that's a good thing if it means councils must then trim all their "outreach coordinator" type BS and return to basic services.

They will probably trim garbage collection to once every two weeks, oh wait they already tried that

[OwlHoot]

All these retail chains going to the wall appear to have been struggling for some time. If they weren't profiting in a boom what hope have they in a recession?

I think some of this is a wider malaise in the high street: Internet shopping, greedy councils putting up parking and business rates, greedy landlords ...

Yup, council tax from business will plummet soon, and that's a good thing if it means councils must then trim all their "outreach coordinator" type BS and return to basic services.

But guess what they'll probably trim first, especially Labour-led councils - libraries, swimming Pools, rubbish collection, etc., i.e. the basic services.

[AtW]

Drop in value of pound must be killing them.

[swamp]

All these retail chains going to the wall appear to have been struggling for some time. If they weren't profiting in a boom what hope have they in a recession?

I think some of this is a wider malaise in the high street: Internet shopping, greedy councils putting up parking and business rates, greedy landlords, out of town shopping centres, poor management, failure to move with the times.

[DiscoStu]

http://uk.youtube.com/watch?v=hMenB9Ywh2Q

[BrilloPad]

http://news.bbc.co.uk/1/hi/business/7801952.stm

UK childrenswear retailer Adams has applied to go into administration, the BBC has learned.

It joins a growing list of well-known chains going to the wall as retailers struggle, including Zavvi, MFI, Whittard and Woolworths.

Adams has 260 outlets in its UK chain and 166 internationally, employing about 2,000 people.

The firm was bought early last year by Northern Ireland businessman John Shannon, who closed 42 branches.

Adams has now applied to the administrators' court, but has yet to be officially placed in administration.

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.

Insolvency fears

"They put the thing into court on Christmas Eve but I cannot really say much more than that," she said.

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.