Children's clothing retailer Adams has been placed into administration for the third time in as many years, leaving over 2,000 jobs hanging in the balance.
MCR was called in to Adams' parent firm JS Childrenswear recently. All strategic options are being considered for the troubled retailer, while it continues to trade, including a sale as a going concern.
Founded in Birmingham in 1933 by Amy Adams, the business now has 120 stores, whereas at its peak it had 271 outlets nationwide. Adams also supplies clothing to Boots under the Mini Mode brand.
Adams has fought to compete with the likes of large-scale retailers Asda, Tesco and Primark, and has already gone through several restructurings.
Northern Ireland businessman John Shannon bought Adams out of administration in February 2007, and then had to rescue it again in 2008. Shannon had aimed to make it more upmarket by adding more fashionable ranges, creating a "Topshop for kids", as he said. He then sold it to Pakistani company Habib Alvi Investments in September 2009.
MCR partner said the business had suffered a "difficult trading environment during the course of the past 12 months".
