From The BBC:
The Adams Childrenswear brand and the remaining 120 stores have been bought out of administration by one of its former managers, John Shannon.
It means that 1,900 jobs throughout the UK and Ireland should be saved.
Administrators PricewaterhouseCoopers have closed 147 stores and cut 1,100 jobs since taking over on 31 December.
Mr Shannon, who bought the chain through his new company JS Childrenswear, also bought Adams out of administration in February 2007.
“The new company will continue to trade under the Adams name, meaning this brand will not be one of the retail names disappearing from the high street in the current recession,” said Rob Hunt, one of the administrators.
“The sale was one of a number of expressions of interest and represented the best deal for all stakeholders,” he added….
Leave a Reply