Childrenswear stores close
THE Great Yarmouth branch of children's wear shop Adams closed on Monday - one of three in Norfolk.A small notice on the door informed customers the company had gone into administration.
THE Great Yarmouth branch of children's wear shop Adams closed on Monday - one of three in Norfolk.
A small notice on the door informed customers the company had gone into administration. Signs advertising a 70pc sale remained in the windows.
Stores in King's Lynn and Thetford, as well as Ipswich and Peterborough, were among 111 that closed nationally and about 850 staff were made redundant.
The remaining 160 Adams stores will remain open and administrators PricewaterhouseCooper (PwC), who were appointed to the firm on New Year's Eve, said they were hopeful they could sell parts of the business.
You may also want to watch:
Rob Hunt, joint administrator and partner at PwC, said: “In light of the current downturn being experienced on the high street, it is with regret that it has been necessary to effect the closure of 111 stores throughout the UK as of today.
“Unfortunately, this will inevitably lead to a number of job losses and 850 people across the company will be made redundant with immediate effect. My team and I will be doing all we can to help these employees at this difficult time.”
- 1 Do you recognise this man?
- 2 Norfolk beach ranked among world's top tourist attractions
- 3 Out There Festival 2021 begins today
- 4 Trainee probation officer shared intimate photos with convicted murderer
- 5 'It's a big pain' - Third river crossing work leaves businessman frustrated
- 6 Ex-Charter Academy head known for discipline causing stir in new role
- 7 Can you spot yourself at Great Yarmouth Ladies Day?
- 8 'I'm totally shocked' - metal railings stolen from Gorleston home
- 9 Sisters realise late parents' dream by opening coffee shop
- 10 Children’s commissioner opens expanding school’s £7m new building
Adams was founded in Birmingham in 1933 by Amy Adams and celebrated its 75th anniversary last year.
The group was bought out of administration in February 2007 and it had begun to show signs of improvement but a sharp deterioration in trading and competition from supermarket chains had reportedly hit the group's ability to service its debts.