A Shrinking Job Market

As we are told, almost daily it seems, by TV, radio & internet (and that guy next door) the economy is in a bad way, credit has been crunched, and the centre cannot hold. All of which means that the job market is shrinking rapidly, as jobs are shed by the er, shed load, and more bad news appears over the horizon every day.

The BBC reports, Sunday, that:

UK childrenswear retailer Adams has applied to go into administration, the BBC has learned. The firm has applied to the administrators' court but has yet to be officially placed in administration. Adams, which has 260 outlets in its nationwide chain and 166 outside the UK, employs about 2,000 people. It joins a growing list of well-known chains going to the wall as retailers struggle, including Zavvi, MFI, Whittard and Woolworths.

PriceWaterhouse Coopers (PWC) are likely to be appointed administrators and take over the running of Adams until a new owner can be found. A spokeswoman for PWC could not tell for sure when it would be formally appointed. "They put the thing into court on Christmas Eve but I cannot really say much more than that," she said.