LG advises on purchase of high street clothing chain Adams Childrenswear
17 February 2009
LG advises on purchase of high street clothing chain Adams Childrenswear
Business law firm LG has advised John Shannon – former owner of Adams, the children's clothing chain - and his newly incorporated company, JS Childrenswear Limited, on the purchase of the high street business. The deal was completed on 14 February 2009.
The deal enables 109 Adams shops in the UK and Ireland to continue trading , as well as preserving more than 1,900 jobs. Mr Shannon proposes to continue to trade using the Adams brand.
LG Corporate Recovery partner Tom Withyman led the team, which included lawyers Robert Paterson, Richard Evans and Alex Shattock. The team completed the deal within 36 hours of being instructed.
Hammonds acted for PricewaterhouseCoopers (the administrators).
Notes to editors:
- Recognised as market leaders, LG's Corporate Recovery team provides advice on the full range of corporate recovery and restructuring assignments to banks, factors and discounters and financial institutions. We also work with under-performing businesses, UK insolvency practitioners, turnaround professionals, pension trustees and the Pension Protection Fund.
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