Poor trading and a failed funding agreement have led to the collapse of women's fashion retailer Colette by Colette Hayman, placing 140 stores and hundreds of jobs at risk in the ongoing brutal retail environment.

The handbags, jewellery and fashion accessories brand was put in the hands of Deloitte administrators Vaughan Strawbridge, Sam Marsden and Jason Tracy on Friday.

Handbag seller Colette by Colette Hayman has been placed into administration. Credit:Janie Barrett

It marks the fourth major retail collapse in the last few months, with fellow fashion retailers Bardot and Jeanswest raising the white flag in January. Discount department store Harris Scarfe also collapsed late last year.

Mr Strawbridge told The Age and The Sydney Morning Herald in addition to poor trading conditions, the business had been expecting fresh funding to replenish its capital after paying off debts. However, the funding deal fell through, forcing the owners to place the business in administration.