Sunday, Dec 28, 2008
10, 9, 8, countdown begin
Times Online: Clothing chain Adams cut down by retail wipeout
THE retail crisis claimed another victim this weekend with childrenswear chain Adams, which has 260 stores in the UK and 116 overseas, poised to go into administration.
Adams, which makes clothes for Boots as well as trading through its own outlets, employs about 2,000 staff. It is expected to appoint accountants Price Waterhouse Coopers as administrator this week.
Posted by peter_2008 @ 09:58 AM (948 views) Add Comment
15 Comments
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1. drewster said...
Adams were already struggling with supermarket competition. It was always easier for mums to pick up a set of baby clothes in Asda or Sainsbury's while doing the weekly shop, rather than traipse into town to a specialist shop like Adams.
Anyone like to make a prediction of the next retail casualty?
2. Fed Up said...
How about Next next?
3. bystander said...
Spot on Drewster - so far the only retailers who have called in the administrators have been the ones who were struggling during the boom years. I wish the media would point this out, and look at a wider cross-section of the retail economy. BRC are always going to use any and all weapons they have to badger the BoE into dropping rates and they are aided and abetted by HMG and the BBC/ mainstream media. Businesses with modern practices will survive, the weak will, and should be allowed, to go to the wall. The same should be a given with overpriced properties.
4. Missingteddybear said...
WH Smith has only survived because of wholesale newspaper business. Is this enough? All their other stuff like stationery is cheaper in the supermarkets. Ottakers Books was taken over by Waterstones last year but I wonder whether Waterstones can survive competition from Amazon. Borders and other smaller bookchains are probably more at risk. I am a big book buyer and I haven't bought a book from a high street bookstore in years (I sometimes buy literary magazines from the independent bookshop 'Foyles' but that's it). The cost of new books have risen far above the rate of inflation over the past decade and as a result people are buying discounted from Amazon or second hand from Amazon Marketplace.
5. paul said...
Anyone like to make a prediction of the next retail casualty?
Currys?
6. Roman Abramovitch said...
Next retail casualty ?
W H Smith or P C World
7. mrmickey said...
I thought JJB Sport were the next to go, to be honest most shops I've been in to recently have a closing down feel about them.
8. crunchy said...
Spoilt for choice. DFS?
9. paul said...
Indeed Crunchy.
SCS? Debenhams?
10. crunchy said...
Big budget items requiring credit must be on the hit list, surely!
11. jonb said...
Halfords perhaps?
12. last_days_of_disco said...
Well one plus thing about this is the M1 is going to get less busy as there will be less trucks on the highways stocking up shops with things we don't really need.
13. drewster said...
Thanks bystander.
It seems clear that any shop which relies heavily on credit will suffer. That means DFS (no payments until 2010?? Negative sofa equity??), although they might be ok now that rival MFI has gone to the wall. A big name car dealership will go bust. Electronics as pointed out above, but not necessarily Curry's. All those silly birthday card shops must be due for the chop too.
One company that will do well is O'Gorman's (sp?), the tv rental co. When people can't buy they rent instead ;)
14. gone-to-colombia said...
Dunns, Brentford Nylons?
15. jonb said...
I thought Brentford Nylons was taken over by Rosebys years ago, and Rosebys has already gone down.