Buyers in the queue for Adams, MCR says
Partners from MCR announce suitors showing interest in struggling retail business
Adams, the troubled retail chain, which collapsed for the third time in three
years last week is attracting interest from potential buyers.
Paul Clark, partner at business recovery specialists
MCR,
confirmed that the business and assets of JS Childrenswear Limited, better known
as the Adams retail chain, are being offered for sale.
The 75-year-old business has more than 107 stores in the UK and a further 19
concessions in the UK and the Republic of Ireland, employing over 1,100 staff.
“We are already seeing significant interest in the business and assets of the
company with a number of interested parties having already come forward,” said
Clark.
“We are still undergoing a process of determining the viability of the
business and while it is too early to make any further announcement on who those
interested parties may be, I can confirm that the company is still trading with
a view to securing a going concern sale,” he continued.
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. Additionally, the
company supplies Boots with the ‘Mini Mode’ own brand range.
Further reading:
MCR
appointed administrator at Adams