Shop Owners Seize Adams' Stock

The Sunday Telegraph London (January 07, 2007)

Author: Helen Power

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Summary

LANDLORDS of Adams Kids, the embattled children's clothes retailer, have seized control of thecompany's stock in lieu of unpaid rent.

Adams is in dispute with some of its landlords after it unilaterally decided to vary its rent terms in December, moving from a quarterly to a monthly upfront payment scheme.

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Extract

Shop Owners Seize Adams' Stock

The retailer and its parent, Myriad, were pushed into a distressed sale by their main lending banks ...

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