Jobs saved at childrenswear retailer Adams

Childrenswear chain Adams has been bought out of administration by former manager, John Shannon, who saved the chain from collapse in February 2007.

Entrepreneur, Shannon, bought the chain through his new company JS Childrenswear, and means that nearly 2,000 jobs in the UK and Ireland will be saved.

Mr Shannon claimed last month that the chain was still a “viable business” and expressed his interest in buying back the chain.

Since the chain was placed into administration on New Years Eve, administrators PricewaterhouseCoopers (PwC) have closed 147 stores and axed more than 1,000 jobs.

Rob Hunt, joint administrator and partner at PwC, said “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.”

Adams, which was founded by housewife Amy Adams in Birmingham in the 1930s, was the biggest independent childrenswear retailer in the UK with an annual turnover of £150 million.

The retailer operated from 270 outlets and concessions in the UK, while also supplying a number of overseas franchises.

Story link: Jobs saved at childrenswear retailer Adams