BusinessBusiness RecoveryPricewaterhouseCoopers talking to possible Adams buyers

PricewaterhouseCoopers talking to possible Adams buyers

Administrator of the collapsed retailer says it is 'liaising' with a number of interested parties

The administrator of Adams Childrenswear, PricewaterhouseCoopers, said it is
in contact with a number of parties who have expressed an interest in buying
part or all of the entire retailer.

PwC said it had closed 36 stores in the UK and Ireland earlier this week,
with the loss of 267 jobs, in addition to 62 redundancies previously announced
at the company’s head office.

Rob Hunt, joint administrator and partner at PricewaterhouseCoopers, said:
‘Our priorities are to work with the existing management team to continue
trading the business as normal while we continue to pursue a sale.’

‘The recent job losses are regrettable but will place the company in a
stronger position whilst we explore opportunities to conclude a sale. My team
and I will be doing all we can to help the effected employees at this difficult
time.’

The remaining 125 stores employing about 1,900 people will stay open as
normal while the administrators continue their search for a buyer, PwC added.

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