Page last updated at 14:37 GMT, Wednesday, 31 December 2008

Adams slides into administration

Trading will continue while administrators assess the firm

Childrenswear retailer Adams has become the latest High Street chain to call in the administrators as it suffers from the slowdown in consumer spending.

The Nuneaton-based firm, the UK's largest independent childrenswear seller, employs 3,200 people.

Its 271 stores will remain open while their viability is assessed, but the administrator warned some closures were likely in the current climate.

French womenswear retailer Morgan also went into administration on Wednesday.

A statement on behalf of Adams' administrators PricewaterhouseCoopers (PWC) said the "difficult trading environment" had been exacerbated by a lack of credit available in the last few months.

"Adams Kids is a well known brand on the High Street and we remain hopeful that it will prove attractive to a purchaser," said joint administrator Rob Hunt.

"However, the current difficulties in the retail environment are such that some store closures are likely."

A related company, Mini Mode Childrenswear, which is a joint venture with Boots, has not been put into administration.

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