Century-old shoe brand Wittner calls in administrators

Australian women’s shoe retailer Wittner, which has been operating in Australia for more than a century, went into administration on Wednesday.

The business has more than 20 branded stores in Australia in New Zealand, as well as 25 concession stores within David Jones and Myer outlets. It also sells online, including on The Iconic.

A statement from Wittner management said that despite improved results over the past year, the business had faced challenges.

“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,” the statement said.

“We have invested in our range and teams over the last 12 months and remain committed to the Wittner business. We will work closely with the administrators to achieve the best outcome for the business and its stakeholders.”

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A notice from the Australian Securities and Investment Commission announced that David Orr and Sal Algeri, from Deloitte’s restructuring services team, had been made joint administrators of the retailer.

“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 [EOI]s from parties interested in the sale or recapitalisation of this iconic Australian brand.”