Monmouth AM Nick Ramsay says Peacocks going into administration is a 'crushing blow'.

Mr Ramsay, the Welsh Government's shadow minister for business, said: "This is an announcement that none of us wanted to hear and one that will be a crushing blow for all those affected.

"Our thoughts are with all Peacocks' employees – along with their families – who now face an uncertain time ahead.

"This development is further evidence of the fragile state of the economy and the Welsh Government must now do everything it can to continue talks and make sure support is in place for everyone involved."

Posters saying 'Save Peacocks' have appeared in the window of the Monmouth store but no-one was available for comment at the time of going to press.

Owen Smith, Labour's shadow exchequer secretary to the treasury and MP for Pontypridd said: "Peacocks is a profit-making company and a British success story that's been let down by the government and by RBS.

"British taxpayers, including Peacocks' 9,000 workers, will want to know why RBS, which they bailed out and whose executives are set to receive massive bonuses in the coming days, has failed to support a British company and protect British jobs.

"They will also want to know what the government has done to try and rescue the situation and whether George Osborne will now face up to the fact that his decision to cut spending and raise taxes too far and too fast has choked off consumer confidence and pushed unemployment up to a 17-year high."