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John Shannon considers Adams rescue deal

John Shannon, the former owner of and chairman of Adams Childrenswear, which collapsed just after Christmas, is considering buying back a slimmed down version of the kidswear chain.

John Shannon, who bought the struggling Adams chain in February 2007, told Drapers that Adams was still a “viable” business.

Shannon said: “One option is to acquire the company back with [former chief executive] David Carter-Johnson still on board.”

Shannon added: “The performance from our new format [Adams Childrenswear] stores has been significantly above target so I know that Adams is still a viable business.”

Seven of Adams’ remaining stores are in the new format, which launched in Lewisham in mid-September.

Yesterday, Adams’ administrators PricewaterhouseCoopers closed 111 stores, leaving 160 still trading, while it looks for a buyer for the business.

PwC told Drapers it had received a number of expressions of interest in the Adams business and brand.