Shopping centre set to lose another big name (From Gazette Series)

Shopping centre set to lose another big name

9:32am Friday 2nd January 2009

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A SECOND High Street chain store looks set to close in Yate Shopping Centre in as many weeks.

Children’s clothing shop Adams is expected to disappear from North Parade after the company went into administration.

It has been confirmed that Adams filed notice of its intention to appoint Price Waterhouse Coopers as administrators on Christmas Eve.

A PWC spokeswoman said it was not yet clear if the firm would be formally appointed.

"They put the thing into court on Christmas Eve but I cannot really say much more than that," she said.

It is unclear how many staff are employed at the Yate store or if they have been given notice of redundancies.

Adams is celebrating its 75th year after it was started by Amy Adams from her terraced home in Birmingham in 1933.

The firm was run independently for 40 years until it was bought by Foster Brothers in 1973 and acquired by the Sears group 10 years later. It is now owned by Northern Ireland businessman John Shannon, who bought it out of administration in February 2007 and closed 42 stores.

Adams has 500 outlets, including more than 200 shops, across the country including one at The Mall at Cribbs Causeway.

The firm employs 2,000 people and also makes clothes for the Boots brand Mini Mode.

In a statement, Adams 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 news comes just a week after Woolworths shut up its Yate shop, the second largest store in the shopping centre. The outlet has been gutted with just closing down sale posters left on the windows.

Other High Street chains suffering from the economic downturn include music and film stores Zavvi, menswear retailer The Officers Club, furniture suppliers MFI and tea and coffee specialists Whittard of Chelsea.

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