PwC enlists Hammonds on Adams collapse

The administrators for ailing retail chain Adams Childrenswear have appointed Hammonds as legal counsel.


The administrators for ailing retail chain Adams Childrenswear ;have appointed Hammonds as legal counsel.

The company was put into administration on 31 December and has already closed 111 of its 271 UK stores, resulting in around 850 job losses.

Administrator PricewaterhouseCoopers (PwC) turned to Hammonds after the firm advised retail ­entrepreneur John Shannon when ;he ;bought ;the ­company in 2007.

Birmingham-based ­corporate strategy and finance partner Devinder Singh ;is ;leading ;the ­Hammonds team.

Denton Wilde Sapte is understood to be representing Burdale, the UK ­subsidiary of the Bank of Ireland, as main lender to Adams.

Burdale is believed to have provided more than e10m (£9.36m) in funding to the company in the months before its collapse.

There was no place for DLA Piper or Pinsent Masons in the current ­proceedings, despite the fact that both were involved in the 2007 deal.

DLA Piper had advised PwC, which was brought in to handle the pre-packaged insolvency of Adams before it was sold. Pinsent Masons represented Adams.

It is hoped that a buyer will be found for the remaining parts of Adams, which has been on the high street for 75 years.

PwC said it had received a number of expressions of interest in the brand.