Here's what I found from a search on "collapsed retina".
Floaters are a common eye symptom that occur as the eye ages. If you've ever seen "bugs", specks, faint strings or flashes of light in your field of vision, you've experienced floaters and flashes.
Generally these phenomena are harmless. Floaters, however, that appear suddenly as a cloud of dark spots or a spider web, especially when accompanied by flashes of light, may signal a torn or detached retina. This is a serious eye problem and can lead to vision loss. If you experience these symptoms, it is important to see an ophthalmologist as soon as possible.
Floaters are actually tiny particles that float around within the eye. Usually they are the result of changes in the vitreous gel which fills the large middle portion of the eye.
The vitreous is a clear, jelly-like material which changes with age. During childhood it is solid like gelatin. As we age, the vitreous begins to liquefy.
Sometimes when the vitreous ages and becomes more liquid, a sudden collapse of the gel occurs. This collapse or vitreous separation causes microscopic particles to "float" within the eye, casting tiny shadows on the retina. We see these as specks or webs depending on their shape.
Occasionally floaters signal a more serious eye problem, such as a retinal tear. The retina is a very fragile membrane that lines the inside of the eye, coming in direct contact with the vitreous. The vitreous and retina attach to each other in places. As the vitreous separates, it can pull on the retina at these attachments and cause it to break or tear, especially if the retina has weak spots.
When a tear is present, fluid from the vitreous leaks under the retina and separates it from the underlying layer in the eye. When this happens, the retina ceases to work, resulting in loss of vision.