JOBS could be under threat at Eastbourne's branch of Adams after the children's clothes retailer warned it was on the verge of going into administration.
The firm, which has a shop in the Arndale Centre, admitted it had been hit hard by the credit crunch and the downturn on the High Street.
It filed a notice of intention to appoint administrators on Christmas Eve, which expires today (Friday), but
directors said this week they were still looking to raise enough money to stave off the threat of administration.
In a statement, the company said, "The downturn in the High Street retail market and the general tightening of the financial markets has adversely affected the financial position of the group.
"The directors are currently working with its funders to resolve the situation and anticipate making a further announcement within the next week."
If the company fails to raise sufficient funds, the notice of intention will lapse and the firm could go into administration.
Adams has 260 outlets in the UK and another 103 overseas, employing about 2,000 people.
But one Eastbourne store that has been saved for now is Whittard of Chelsea.
The 122-year-old business, which sells tea, coffee and crockery, was sold to a private equity firm before Christmas.
Administrators Ernst and Young, who sold the business for an undisclosed sum to EPIC, said all 130 of its stores would remain open.
Richard Spiegelberg, a spokesman for EPIC, said it was 'too early to say' what plans might be put in place for the future of the company.
LEFT: The Adams store in the Arndale Centre (e52013j)
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