Thousands of jobs saved as Adams chain is bought
More than 3,000 jobs were saved yesterday when the childrenswear chain Adams was bought out of administration. The deal, involving the retail entrepreneur John Shannon, formerly chairman of the shoe firm Stead & Simpson and the Country Casuals clothing chain, ensures that 273 stores will remain open. The administrator, PricewaterhouseCoopers, said it had not been possible to save 42 branches, affecting about 400 jobs. Rob Hunt, of PwC, said: "If we had not been able to complete this transaction it is highly likely that significantly more store closures and redundancies would have occurred."