A fashion chain with a large presence in Watford has been forced into administration.

Peacocks, in the High Street, announced that it had appointed administrators yesterday evening.

Richard Kirk, chief executive, said: “Peacocks is a brand with great heritage, and it is with deep sadness that we have been left with no other option but to place the business into administration.

“We have worked tirelessly over the past year to agree a new financial structure to take the business forward in the current, tough retail environment, including seeking new investment for the business.

“This is a hugely sad development for all of our stakeholders, especially our employees who have shown total commitment to the business over an uncertain and difficult period.

“I would like to take this opportunity to thank all colleagues for their hard work and dedication during their time with the Group.”