Iconic Australian footwear brand thrown possible lifeline

Australian institution The Shoe Group has expressed liking successful a imaginable acquisition of Wittner and has entered into a play of exclusivity pinch nan voluntary administrators.

The Shoe Group's president Ian Unwin said nan business felt excited astir nan opportunity to bring Wittner into nan group.

"It is simply a marque pinch a proud bequest and beardown customer following, and we look guardant to supporting its continued success," Unwin said.

Deloitte Turnaround and Restructuring partner and transaction lead Daniel Demir said nan projected waste would support nan continuation of an iconic and much-loved Australian business.

"The projected waste represents a awesome milestone for a much than 100-year-old practice brand, achieved nether an accelerated timeline and successful nan discourse of a challenging unit environment," Demir said.

"We person worked intimately pinch nan Wittner squad to support trading stableness passim nan management process and are pleased to make today's announcement to unafraid nan early of this iconic Australian brand."

Voluntary administrator David Orr said nan projected waste would present a affirmative result for each stakeholders, including employees, creditors, landlords, and concession partners.

"We convey them for their ongoing support and collaboration during nan management process," Orr said.

"TSG brings heavy assemblage expertise and integrated capabilities crossed manufacturing and retail, making it good placed to support Wittner's future."

DOWNLOAD THE 9NEWS APP: Stay crossed each nan latest successful breaking news, sport, authorities and nan upwind via our news app and get notifications sent consecutive to your smartphone. Available connected the Apple App Store and Google Play.