Myer has confirmed it is working with Sir Philip Green to save Topshop Topman Australia.
Myer, the brands' domestic concession partner, has announced it is working with administrators Ferrier Hodgson and UK-based franchisor Arcadia Group.
Topshop Topman Australia appointed Ferrier Hodgson to the business this week after hitting financial strife.
Myer holds a 20% interest in Austradia, parent company of Topshop Topman Australia, with 17 Topshop and 17 Topman concessions nationally.
Euromonitor apparel and footwear research analyst Bernadette Kissane said it is no surprise Arcadia Group, owned by Green, is coming to the rescue.
"Given the brand was initially a huge success in the market, it comes as no surprise that Arcadia owner Sir Philip Green is stepping in to resolve and restructure the business.
"Topshop may have fallen on hard times but there is still potential for the brand to regain its relevance in Australia if it addresses its value perception (or lack of) among its consumer base."