Australian footwear brand Wittner has become the latest retail brand in Australia to collapse, falling into administration.
ASIC records show the company appointed external administrators earlier today.
Deloitte restructuring partners Sal Algeri and David Orr have been appointed to administer the brand.
“We understand the appointment of Administrators will be particularly concerning to Wittner’s employees, as well the very loyal customer base it has built over decades.” Algeri said.
“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 re-capitalisation of this iconic Australian brand.”
Wittner has more than 20 stores in Australia and New Zealand as well as 25 concessions inside Myer and David Jones.
It also sells footwear through The Iconic website.
Wittner, which was founded in 1912 by HJ Wittner as Australia’s first mail-order footwear business, has faced challenges with a slump in sales and rising costs – one of a string of retailers to face these pressures.
A spokesperson said the business would work closely with the administrators “to achieve the best outcome for the business and its stakeholders”.
“Wittner is a heritage brand with a rich history of over 100 years in the Australian footwear market,” the spokesperson said.
“Over the last 12 months we have achieved strong growth in online sales, and significant sales growth from the expansion of sites across the Myer network.
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“However, the growth in sales has 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.”
The spokesperson said Wittner has a “broad and loyal customer base”, including more than 300,000 Wittner Co Rewards members and more than 400,000 social media followers.
