Australia’s retail industry is losing its grip with the news of many fashion and entertainment store chains being knocked over by the online shopping industry.

Harris Scarfe, EB Games and Jeanswest are just some of the brands to shut doors across the country, and now another popular chain has gone down with the ship.

After once holding the title of Australia’s biggest handbag empire, fashion accessory store Collette by Collette Hayman went into voluntary administration in late January.

“Colette by Colette Hayman has, unfortunately, been impacted by the current weak retail environment, as have many others,” Vaughan Strawbridge of Deloitte Restructuring Services said.

Strawbridge said that he and his partners were confident of securing a future for the brand and keep layoffs to a minimum.

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The around 300 staff who could be impacted will receive their wages and entitlements. Gift cards will also be honoured.