Published: Wednesday, 31st December, 2008 7:55am

New Kingsgate Centre business heads for administration

by Graham Gibson

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Pic by: Dunfermline Press

CHILDREN’S clothing chain Adams has applied to go into administration with their new store in Dunfermline’s Kingsgate Centre now under threat.

The firm recently invested £55,000 in opening its new 3000 square foot store in the centre on 30th October.

The crisis has put the shop’s 10 jobs at risk.

Adams, who sell baby-wear, school uniforms and clothes for kids up to 10, filed a notice to appoint administrators PricewaterhouseCoopers on Christmas Eve. The firm is reported to have debts of more than £30 million.

The company has 17 stores in Scotland and 260 across the UK, employing around 2000 people, and workers await a further announcement in the next week regarding the company’s future.

An Adams spokesperson said, “We are currently reviewing all of the options that are available for the business going forward.

"We remain hopeful but we won’t really know the outcome of that review until within the next day or two.

“There is no telling with jobs. We are hopeful that a good part of the business as a minimum can go forward and we are working to that end.

“At the moment we are hoping for the best and that we will be able to safeguard as many jobs and as many stores as possible.”

Adams followed menswear retailer The Officers Club, who fell into administration shortly before Christmas, as companies which have stores in the Kingsgate centre and have now fallen on difficult times.

However, an Officers Club spokesperson insisted there would be no closure of any its stores in Fife and Tayside.

Despite retailers continuing to buckle under the strain of soaring costs, falling consumer spending and the credit crunch, Kingsgate manager Neil Mackie said he was confident the centre would continue to attract new businesses and drive forward successfully into the coming year.

“It’s a case of us having to batten down the hatches and push the place onwards,” he said.

“With the economic climate there will be casualties but it is a case of focusing on the positives and looking for every opportunity we possibly can.”

Mr Mackie stated that, although a number of businesses were experiencing difficulties, there were still a large number of retailers in a healthy position.

“The Kingsgate centre has always had very strong performances from all retailers, including the ones nationally that are in trouble,” he said.

“We have to realise that this is not a situation specific to Dunfermline, it is a national situation.”