Adams, the children’s wear chain, plans to appoint PwC as administrator as soon as today after it became the latest retailer to fall victim to the consumer downturn.
The Nuneaton-based chain operates 260 stores and concessions in the UK and supplies Boots, the health and beauty group, with children’s clothes under the Mini Mode brand.
The company’s collapse leaves Burdale, the Irish asset-backed lending specialist, looking to recover money lent to a large retailer for the third time this year. Burdale financed Woolworths, which failed last month, and Roseby’s, the textile chain, which went into administration earlier this year. The bank lent Adams £10m earlier this year.
Financial Times, The Times