By Marcus Leach

Peacocks, the Cardiff-based clothing retailer, are in talks with lenders about the restructuring of the company due to debts in the region of £240 million.

According to a report in The Telegraph talks have thus far failed, which means the company are in real danger of going into administration.

However, the firm themselves have said nothing apart from that they are indeed in talks with their lenders.

With over 400 people employed at their headquarters, and several thousand more throughout the UK if they were to go into administration it would be one of the biggest firms in Wales to do so in many years.

A spokesperson for one of its lenders, the Royal Bank of Scotland (RBS) told BBC Wales on Sunday night that each company restructuring was judged on its own merits but the difficult conditions retailers faced was an important factor.

"We have been and continue to be supportive of the company," said the spokesperson.

"New investors willing to inject sufficient capital could not be found.

"If further funds are required then this is an issue for shareholders and for approval by a majority of the company's lenders."

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