Investors being sought for troubled Peacocks

Clothing retailer Peacocks is attempting to find a new investor to save it from administration, according to online reports today.

The company's advisors yesterday filed a notice of intention to appoint an administrator, after talks to restructure £240 million of debt failed.

Richard Kirk, the firm's chief executive, is believed to have secured the provisional support of RBS and Barclays for the plan, according to The Telegraph.

However, if no deal is reached, it will be the biggest retail collapse in terms of job losses since Woolworths closed in 2008.

Click here to read the full Telegraph report.