Wittner administrators in exclusive talks for potential sale to owners of Jo Mercer, Wild Rhino

Legacy Australian shoe company Wittner is tying up its laces after slipping into administration in April, with its restructuring experts entering exclusive negotiations for a potential sale for the majority of the business to Melbourne-based The Shoe Group (TSG), which owns such brands as Jo Mercer, Wild Rhino, Corasol and Novo.

Ultimately owned by Hong Kong-based entity Swas Investments, TSG has a a diverse portfolio of brands as well as its own extensive retail store network, direct online and marketplace sites, and wholesale customers.

The update comes after Deloitte Turnaround & Restructuring partners David Orr and Sal Algeri were appointed administrators of Wittner in April, against a backdrop of other high-profile fashion brand collapses this year including Jeanswest, Ally Fashion and the Mosaic Brands portfolio comprising the likes of Millers, Noni B, Katies, Rivers, Rockmans, W.Lane and more.

Wittner was initially founded in 1912 by HJ Wittner as a mail-order shoe business, and prior to administration was owned by U.K.based investor Hilco. Today its website lists a footprint of 35 locations in Australia and New Zealand, including its own stores and stockists such as David Jones.

The administrators believe the acquisition of Wittner would be highly complementary to TSG’s existing operations, particularly in terms of brand positioning, retail footprint, and the opportunity to integrate Wittner into its broader platform.

"We are excited about the opportunity to bring Wittner into the TSG family," says TSG chairman Ian Unwin.

"It is a brand with a proud legacy and strong customer following, and we look forward to supporting its continued success."

Deloitte Turnaround & Restructuring partner and transaction lead Daniel Demir says the proposed sale will support the continuation of an iconic and much-loved Australian business.

“The proposed sale represents a major milestone for a more than 100-year-old heritage brand, achieved under an accelerated timeline and in the context of a challenging retail environment,” Demir says.

“We have worked closely with the Wittner team to maintain trading stability throughout the administration process and are pleased to make today’s announcement to secure the future of this iconic Australian brand.”

Deloitte Turnaround & Restructuring partner and voluntary administrator David Orr says TSG brings deep sector expertise and integrated capabilities across manufacturing and retail, making it "well placed to support Wittner’s future".

"The proposed sale would deliver a positive outcome for all stakeholders, including employees, creditors, landlords, and concession partners, and we thank them for their ongoing support and collaboration during the administration process," Orr says.