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
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.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.