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Adams in Bracknell here to stay

21/02/07

Bracknell Regeneration Partnership (BRP) is delighted to announce that Adams childrenswear on the High Street is to stay open and trading despite news that the retailer had gone into Administration nationally.

A newly formed private company, backed by retail entrepreneur, John Shannon, has now acquired the majority of the Adams business and assets, which included close to 300 stores nationwide. Consequently it has been announced that 273 Adams’ outlets across the UK, including the Bracknell store on High Street, will remain open and trading, while 42 branches are to close immediately as a result of severe loss making in those locations.

Clare Juniper, Head of Strategic Asset Management comments:
“We are delighted that Adams has chosen Bracknell as one of the stores they are to keep trading. We believe this is due to the vibrant shopping environment that BRP is committed to creating in Bracknell by actively seeking new retailers to add to the variety on offer and investing in phased refurbishment across the town centre even before the 750million regeneration takes place. The result of our hard work is perfectly demonstrated by Bracknell’s buoyant footfall figures which show a double digit rise in January compared to last year.”

John Alderton, national head of business recovery & insolvency at Hammonds, who led the acquisition, comments on the news:
“This is great news for Adams and means that we are saving over 3,000 jobs nationwide in the remaining stores. With the experience and drive of the new team behind Adams, I am sure that the business will be able to be turned round and will flourish in the months and years to come.”

Operating from its base in Nuneaton, Adams is one of the largest independent retailers of children’s clothing in the UK. Adams embarked upon a disposal process shortly prior to Christmas, following insufficient re-financing and loss making nationally.