An Australian-owned homewares company, which has 60 stores nationwide, is the latest retailer to collapse into voluntary administration.
Ishka employs more than 450 people, including at its Rosny Park and Launceston stores, and has been trading for close to 50 years.
Executive director of the Australian Retailers Association Russell Zimmerman says nationally the sector has been hit by a multitude of factors including drought, bushfires and the coronavirus outbreak.
“Seeing this company go through difficulty which has been trading for over 50 years, it’s devastating to see this happening,” Mr Zimmerman said.
“The largest concern of the association across Australia is the loss of jobs in the industry.”
Although, Mr Zimmerman is confident Tasmanians will keep their jobs.
"There are probably around 8 to 10 staff in each of the stores, going into voluntary administration doesn't mean the stores will close. If they can hold their own and make a profit, they will remain open."