Fears over futures of stores

Russell Steele • Published 9 Feb 2010 14:00

MYSTERY surrounds the fate of two Greenock town centre stores whose owners have both plunged into administration.

The Adams childrenswear shop in the Oak Mall has been plastered with huge 'closing down' signs and decorating store Fads, on West Blackhall Street, faces an uncertain future.

Accountants were called in to operate the Adams chain for the second time inside a year - but have insisted no store closures have been confirmed.

The Tele understands Oak Mall bosses are in the dark about the future of the shop, which avoided closure last year after its then-owners also ran into difficulties.

A spokesman for MCR, the firm handling the latest insolvency, today said the shops were trading in a 'business-as-usual' fashion.

Bosses at MCR said recently they were looking to save the Adams shops by finding a buyer.

Paul Clark, the administrator, said: "We are already seeing significant interest in the business and assets of the company with a number of interested parties already coming forward. "

Meanwhile, the nearby Fads decorating store is also at the centre of speculation after its holding company hit the buffers.

Steven Wiseglass, of Hodgsons, the administrators, said: "The company which Fads is a part of entered administration on 4 February and is trading on while the situation is assessed.

"We hope to find a solution which could save at least some of the stores and jobs."

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This article appeared in Greenock Telegraph 09 Feb 10

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