Footwear retailer Wittner appoints administrators | Australian Markets

Popular footwear model Wittner, which was based over a century in the past, has collapsed into administration amid a powerful working atmosphere for retailers.

Wittner is the latest retailer to succumb to a pullback in discretionary spending, with Deloitte restructuring companions Sal Algeri and David Orr appointed as administrators on Wednesday.

Mr Algeri stated trading would proceed as Deloitte sought a sale or recapitalisation of the business.

“We understand the appointment of administrators will be particularly concerning to Wittner’s employees, as well as the very loyal customer base it has built over decades,” he stated.

“Please be assured that trade will continue on a business-as-usual basis as we conduct an urgent review of the group’s finances and seek expressions of interest from parties interested in the sale or recapitalisation of this iconic Australian brand.”

The footwear retailer has over 20 branded shops in Australia and New Zealand, and more than 25 concession retailers throughout department shops David Jones and Myer. It additionally has an online presence through its own web site, Myer and David Jones, and The Iconic.

The Wittner management stated the growth in gross sales from its growth into Myer had been “eroded by cost pressures from rising wages and occupancy costs, and more recently challenging trading conditions and supply chain disruptions”.

“We have invested in our range and teams over the last 12 months and remain committed to the Wittner business,” they stated.

“We will work closely with the administrators to achieve the best outcome for the business and its stakeholders.”

Wittner’s collapse come simply weeks after denim label Jeanswest went into administration, closing more than 90 shops throughout Australia and leaving over 600 workers with out jobs.