Published Wednesday, 18 January 2012
The company runs 27 stores across the region which it claims will stay open as the business attempts to find a buyer.
There are 611 Peacocks stores and 49 concessions in the UK and no redundancies have been made from the almost 10,000 strong workforce so far.
Chris Laverty, joint administrator and restructuring partner at KPMG, commented: "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."
Richard Fleming, joint administrator and UK Head of Restructuring at KPMG, added:
"We are actively seeking a buyer for the 611 stores and 49 concessions and encourage interested parties to get in touch."
A buyer is also being sought for retailer Bonmarché which is owned by the Peacock Group.
A notice of intention to appoint administrators to the clothing stores was filed on Monday 16 January.
That means ten days from that date, administrators will be appointed.