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Adams falls into administration again

Children's wear chain Adams has been placed into administration after a difficult period in the company's history, putting more than 2000 jobs at risk. Restructuring experts MCR and Gerald Edelman have been appointed as joint administrators to the company's US parent JS Childrenswear. This is the third time the company has been placed into administration in as many years and a buyer is being sought for the company, which is trading as normal for the moment.

The company has history which goes back to 1933 and despite the fact that the original 271 store portfolio was reduced to 125 stores after the last restructuring, there appears to be more pain coming the way of Adams in the short term. Even though the company has a number of prominent contracts with leading UK retailers it continues struggle and is the latest casualty of the UK economic downturn.

Unfortunately it is highly likely that we can expect further big-name casualties in the UK market with UK banks unwilling or unable to forward finance in the short term to see them through this difficult trading period. While no names have been mentioned of late there are a number of possible well-known casualties waiting in the wings with some banks waiting to pull the plug in the short term.

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