Gold Coast-based sunglasses brand Valley Eyewear has been placed into liquidation, with a sale of the business now underway.
According to local reports, the Federal Court has appointed Worrells’ James Robba and Jason Bettles as liquidators. They were ordered to carry out an urgent sale of the business, along with $600,000 in stock, optical equipment, intellectual property, customer databases, and digital and social media assets.
The company will continue to trade as normal until August 24, which has been set as the deadline for expressions of interest.
House of Valley, a related company that was registered to launch the Valley Eyewear’s Burleigh Heads store and optometrist in 2024, has also collapsed.
Founded in 2011 by Michael Crawley, Tenielle Crawley and Matthew Grippo, Valley Eyewear grew to sell across more than 20 countries, boasting more than 100 Australian stockists and dozens more overseas. Its sunglasses have been seen on celebrities such as Chris Hemsworth and Margot Robbie.
The reason behind the brand’s collapse was not disclosed, but the event follows a court battle between the owners.
The Crawleys last week filed the order against the companies and Grippo. According to The Courier Mail, financial records show Valley Eyewear owed money to suppliers, banks, utilities, and email service providers.
The liquidators will provide additional information to creditors, employees, and stakeholders when available.
- Further reading: Proud Poppy collapses into administration amid store closures.
