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P CREDIT CRUNCH
Page 7
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Uncertainty on the rise
A SWATHE OF retail collapses has lead to further uncertainty among operators and vehicle rental businesses over the future of contracts for highstreet stores.
Adams Child renswear went into administration on 31 December with the loss of 111 shops and 850 jobs around the UK.
A spokesman for administrator PricewaterhouseCoopers (PwC) says Adams has its own transport fleet, on contract with Fraikin and Alltruck.
The remaining 160 stores will stay open while the administrators look for a purchaser. Also going into administration last month was clothing retailer The Officers Club, which relied on TNT for its transport needs. TNT says it is in talks with The Officers Club's new owners with a view to continue its contract.
TimeC 1215 has now bought the business and assets of 118 of the firm's 150 stores, securing 1,000 jobs.
Wincanton is in talks over the redeployment of as many of its staff as possible" following the closure of all 807 Woolworths stores this week.