Adams - an anti-grabbit quick almost

cloz

Has anyone else heard that they will be reducing the value of nectar points? 500 points equals £3 rather that £5
http://forums.moneysavingexpert.com/showthread.html?t=349186

woodyuk

Not sure if this has been mentioned within the 16 pages of this thread, but from what a shop assistant told me, Adams had been bought out by another company and some shops were closing and others staying open for refits.

kiddy_guy

It has been and it is true.

jacksons_mum

mine has shut down and didnt have a proper closing down sale, which could explain why some out of stock items are now back in stock

thedriver

Have gone into administration

tubbies74

Just seen this


3,000 jobs saved in Adams deal



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View GalleryMore than 3,000 retail jobs have been saved after the childrenswear chain Adams was bought out of administration.
The deal involving retail entrepreneur John Shannon - formerly chairman of footwear firm Stead & Simpson and clothing chain Country Casuals - ensures that 273 stores around the UK will remain open.

PricewaterhouseCoopers (PwC), which was appointed as administrator on Thursday, said it had not been possible to save 42 branches, affecting around 400 jobs.

PwC partner Rob Hunt said: "If we had not been able to complete this transaction it is highly likely that significantly more store closures and redundancies would have occurred."

Operating from Nuneaton, Adams is the largest specialist retailer of children's clothing in the UK with an annual turnover of £200 million. It also has a number of overseas franchise outlets and retail customers, which PwC said would continue to be served following the deal.

Adams holding company, Myriad Childrenswear and its clothing subsidiary TU Childrenswear are not impacted by the deal and continue to operate as normal under the control of their directors.

PwC said the deal with Mr Shannon was completed immediately following its appointment as administrators to the company.

Mr Hunt added: "This sale will enable 273 stores to continue trading, safeguard some 3,200 jobs and ensure that Adams continues to have a place on the high street."

One media report said Mr Shannon paid less than £20 million for the shops.

It is the second retail rescue in as many days after Kwik Save said an investment company had agreed to take a majority stake in the business. A new chief executive and chairman will be appointed to steer the group.



Copyright (c) Press Association Ltd. 2007, All Rights Reserved.
Last Updated: 02 February 2007

sarahe

Hello all
I converted my nectar points into Adams vouchers just 2 weeks ago. I went along today and the store was closed - but is still full of stock. I hope I haven't lost my £30 of Adams vouchers.

CGG

The Adams store in Grantham, Lincs was open today. They were selling everything, or virtually everything at £5.

megasaver

Just to let everyone know I went to two Adams stores today. They were both open last week but the first in Wimbledon had def closed (had to go to Wimbledon anyway!) Went to Sutton (telephoned first) and the store there is still open. Spent my Admas/nectar vouchers there no problems :T So if you find an open store they are still accepting the vouchers!

Mega xx

Sput2001

The Lancaster branch is having a closing-down sale.