Wittner has been rescued from administration after the administrators completed the sale of the company to The Shoe Group.

The sale, which includes Wittner Group Holdings, Wittner Retail Australia and Wittner Retail New Zealand, was made via a Deed of Company Arrangement (DOCA). It involves the transfer of the entire issued share capital in Wittner Group Holdings from its existing shareholders to The Shoe Group.

The century-old footwear brand collapsed into administration in April amid falling sales, with Deloitte turnaround and restructuring partners David Orr and Sal Algeri appointed as joint and several administrators.

Orr and Algeri, along with Deloitte’s Daniel Demir, entered a period of exclusivity with The Shoe Group for the proposed sale of the majority of the Wittner business last month.

Demir, who led the transaction, said the completion of the sale and recapitalisation process represents a new chapter for the iconic brand.

“The success of the sale, which occurred in the context of a challenging retail environment, will allow for the continuation of the majority of the Wittner business, including retail stores and concessions, as well as the retention of over 170 employees,” he continued.

“The sale has also delivered a positive outcome for creditors, landlords and concession partners, and we are thankful for their support throughout the administration period,” added Orr.

Founded in 1912, Wittner is one of the oldest family-run retail businesses in Australia, known for its quality craftsmanship and design. 

The retailer operates about 20 own-branded stores, over 25 concession stores across David Jones and Myer, and an e-commerce platform. In New Zealand, it has two stores in Parnell, and the Commercial Bay shopping centre in Auckland’s CBD.