Australian comfort footwear retailer Planet Shoes Group is the latest fashion business to collapse, with KPMG Australia partners James Stewart and Gayle Dickerson appointed as administrators.
The business trades as Planet Shoes Group under the business name Omni Footwear Pty Ltd & Omni Retail Pty Ltd.
The retailer is positioned as comfort footwear for women, operating predominantly through an online website, alongside physical outlet stores in the Moorabbin and Spencer Street DFO complexes.
The appointment of administrators follows a decision by the director of the Planet Shoes Group to appoint KPMG as voluntary administrators on May 21 this year.
The administrators have assumed day-to-day control of the Planet Shoes Group and the companies will continue to operate while the administrators seek expressions of interest from potential buyers. Employee entitlements are not at risk and will be paid normally through the voluntary administration process.
“The soft discretionary retail market impacted the business trading performance in the period leading to our appointment and our focus is to try to find a buyer for the business,” Stewart said.
Interested parties will be asked to register their interest in the sale with the administrators by 5pm on June 7, 2024.
It follows the recent collapse of both Marquee Retail Group and Tigerlily, the latter of which has since been sold to swimwear brand Seafolly.