Your rights when retailers go bust

John Giles/PA

Retail closures: bad news for employees, high streets and of course shoppers, who can be left high and dry with faulty products, outstanding orders or valid gift vouchers.

Now budget fashion chain Peacocks joins Blacks, La Senza, Hawkin's Bazaar, Past Times and Barratts to become the latest casualty of financial strife. So what rights do customers have when retailer goes into administration?