NATIONAL: High-profile footwear brand Steve Madden has been placed in administration - the third major casualty for the sector this year.
The brand's Australian arm, which operates 35 stores and has 18 concessions across Myer, has appointed Ferrier Hodgson as administrators. It is understood the business will trade on as administrators scour the market for potential investors.
This follows the closure of national value chain Shoobiz, which operated 43 stores, and high-end operator Evelyn Miles, which operated six stores, earlier this year.
Steve Madden employs 200 staff and drew $17 million in revenue over 2008.