Published Date:
06 January 2009
THE EASTBOURNE branch of Adams Childrenswear closed this week amid the credit crunch and economic downturn.
The Arndale Centre store was one of 111 Adams stores closed by administrators Pricewaterhouse Cooper.
A number of others will remain open while administrators continue to find a purchaser for the business.
Administrators were called in on New Year's Eve after a bid by directors to raise enough money to keep trading failed.
A spokesperson for PwC said, "Since our appointment as administrators to Adams Childrenswear Limited on December 31 2008, we have been reviewing the company's financial position and short term trading prospects.
"While some expressions of interest in the Adams business and brand have already been received it has been necessary to effect the closure of 111 stores throughout the UK as of Monday.
"In the South East more than 20 stores will close including those at Ashford, Dartford, Eastbourne, Horsham and Worthing."
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Last Updated:
06 January 2009 3:31 PM
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Source:
n/a
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Location:
Eastbourne
