THE credit crunch claimed another prominent Northwich store yesterday, Monday, when childrenswear chain Adams Kids shut down.
The company, the UK’s largest independent childrenswear seller, announced the closure of 111 of its stores five days after calling in the administrators.
And less than 48 hours after 65 employees at Woolworths were made redundant on Saturday, staff at Adams were told they had lost their jobs.
Staff at the Crewe store were only notified of the news via email at 8.30am on Monday, but no one from Adams was available to confirm whether Northwich staff had suffered the same indignity.
Adams, which celebrated its 75th anniversary last year, blamed the decision on the “current downturn being experienced on the High Street”.
The company was bought out of administration in February 2007 by Northern Ireland businessman John Shannon and appeared to be beginning to show signs of improvement, but then began to suffer from increasing competition from supermarket chains.
Rob Hunt, from administrators PricewaterhouseCoopers, said: “Unfortunately, this will inevitably lead to a number of job losses and 850 people across the company will be made redundant with immediate effect.”
The remaining 160 stores will stay open as normal whilst the administrators continue their efforts to find a purchaser for the business.
The retailer said that its remaining 160 shops would stay open as the administrators try to sell the company.