Roger David, Australia’s third largest Australian menswear retailer, has succumbed to the retail crunch and increasing competition online. The company says it is “heartbroken” that it has gone into voluntary administration. The 76-year-old company says it couldn’t compete with global retailers operating in Australia and with digital sites. “Today marks a sad day in the long history of Roger David menswear and for Australian retail,” the company said. “Despite the directors’ best efforts with the business, it simply could not compete with the influx of multinational retailers and the rapid, global evolution of online shopping.” Read more at Business Insider.