850 jobs axed as Adams stores close

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PricewaterhouseCoopers (PwC), which was appointed to the firm on New Year's Eve, said the job losses were "inevitable" but added that it had received a number of expressions of interest in the Adams business and brand from prospective buyers.

The remaining 160 Adams stores will remain open while efforts are made to secure a sale.

Adams continues to employ 2,350 staff, and PwC said it was "hopeful" of being able to sell some parts of the business.

Rob Hunt, joint administrator and partner at PwC, said: "In light of the current downturn being experienced on the high street, it is with regret that it has been necessary to effect the closure of 111 stores throughout the UK as of today.

"Unfortunately, this will inevitably lead to a number of job losses and 850 people across the company will be made redundant with immediate effect. My team and I will be doing all we can to help these employees at this difficult time."

Stores are being closed at locations including Glasgow, Leeds, Blackpool, Coventry, Bolton and Wigan.