Dear Business Friends...
Here is the latest retail fatality to surface from Sky News today:
Professional services firm KPMG said it had been appointed administrator to the retailer.
Peacocks, which owns 611 stores and 49 concessions across the UK, as well as its parent company The Peacock Group.
KPMG said all Peacocks stores remain open as it seeks to find a buyer for the business and no redundancies have been made.
Chris Laverty, joint administrator and restructuring partner at KPMG, said: "Like many retailers Peacocks has suffered from tough economic conditions, which have seen its customers reduce their spending on the high street.
"This factor, combined with a surplus of stores and high overheads, led to the business becoming financially unviable in its current form."
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JC Mac,
