On Wednesday (January 18) a national clothing company which employs approximately 9,600 people confirmed it was entering administration. Chief executive of Peacocks Richard Kirk issued a statement thanking staff. He added: "Peacocks is a brand with great heritage, and it is with deep sadness that we have been left with no other option but to today place the business into administration." Mr Kirk blamed a tough retail environment, adding that measures to seek new investment did not pay off.