Fashion retailer CBCH group of companies, trading as Colette by Colette Hayman, is the latest retailer to tumble.
The accessories chain was was placed into voluntary administration on January 31, 2020.
It follows the appointment of administrators to Jeanswest Australia this month.
Founded in Australia in 2010, Colette By Colette Hayman operates across 140 stores in Australia and in New Zealand as a destination for bags, jewellery and accessories.
The business employs over 300 permanent staff, plus casuals, with annual gross sales of over $140 million.
Voluntary administrator Vaughan Strawbridge said it had been hit by hard times.
“Colette By Colette Hayman has, unfortunately, been impacted by the current weak retail environment, as have many others.
“Our focus is on continuing to trade the business while we seek either a recapitalisation of the Group or a sale of the business.
“Given the strength of the brand we are confident we will be able to secure a future for the business and preserve the employment of as many people as possible.”
Strawbridge said that, as trading continues, employees will continue to be paid by the administrators. He said he was also confident there are sufficient assets to meet all employees entitlements.
The administrators will continue to honour gift cards.