Administrators have warned it is uncertainty that will destroy businesses.
Deloitte Restructuring Services partner Vaughan Strawbridge said retailers are struggling to navigate the current climate.
“These are extraordinary times, and there is also no certainty that many retail operators in Australia will be able to continue trading amidst so much uncertainty and with public health measures changing so frequently,” he said.
The move comes amid as another retail group hits the wall, with The PAS Group appointing administrators last week.
The PAS Group operates retail chain Review, womenswear brands Black Pepper and Yarra Trail, and JETS Swimwear.
The PAS Group has a wholesale division servicing department stores such as Myer and 200 specialty retailers.
Its Designworks arm supplies licensed brands such as Everlast and Slazenger and private label garments to retailers including Myer, Kmart, Harris Scarfe, Target and BIG W.
It has 225 retail stores and has about 1300 staff.
The PAS Group appointed PwC partners Stephen Longley, David McEvoy and Martin Ford as voluntary administrators of the group on Friday.