Housewares and furniture chain Ishka has collapsed into voluntary administration as the malaise currently gripping the nation’s $320 billion retail sector claims another victim to add to a growing list of collapses in just the last few months.

The family owned retail chain was founded 50 years ago and has 60 stores around Australia, with its staff of around 450 now facing an uncertain future as administrators at Cor Cordis picks over the wreckage of the business and attempts to save some parts of the failed group.