The parent company of online footwear retailer Planet Shoes has been placed in administration.

KPMG Australia partners James Stewart and Gayle Dickerson have been appointed administrators of Omni Footwear and Omni Retail.

While predominantly selling comfortable footwear online, the retailer also operates physical outlet stores in the Moorabbin and Spencer Street DFO shopping centres.

The brand’s website is currently promoting 40 per cent off all stock. Besides its own namesake brand, the retailer sells footwear under labels including Tamaris, Jana, and Adesso.

In a statement issued Friday, the administrators said they have assumed day-to-day control of the businesses, that will continue to trade while expressions of interest are sought from potential purchasers.

“Employee entitlements are not at risk and will be paid normally through the voluntary administration process.”

“The soft discretionary retail market impacted the business’s trading performance in the period leading to our appointment, and our focus is to try to find a buyer for the business,” said Stewart, who is KPMG Australia’s restructuring services partner.

Registrations of interest will close at 5pm on June 7.