Seven bidders submit offers to buy Valley Eyewear out of liquidation
Seven bidders have made formal written offers for the assets of Gold Coast sunglasses brand Valley Eyewear after it entered liquidation in mid‑August. The liquidators said the sale process drew 120 expressions of interest and produced seven competing bids from parties in Australia, New Zealand, Asia and the United States.
The expression of interest campaign generated 120 registrations, 72 signed confidentiality agreements and the seven formal offers.
“There was considerable interest from prospective purchasers throughout the campaign, which culminated in multiple competitive offers being submitted for our consideration,” James Robba, liquidator at Worrells said.
“We expect the outcome achieved through the sale process will result in a return to creditors of the companies,” James Robba, liquidator at Worrells said.
Before entering liquidation, Valley Eyewear faced a legal dispute among its owners Michael Crawley, Tenielle Crawley and Matthew Grippo. Founded in 2011, the brand expanded to more than 20 countries and stocked its products in over 100 businesses.
What we know
Sunglasses brand Valley Eyewear has received seven formal written offers in a sale process that has attracted 120 expressions of interest from around the world.
They said it drew “significant market interest”, generating 120 registrations of interest, 72 executed confidentiality agreements and seven formal written offers.
Inside Retail reported that the Gold Coast-based company entered liquidation in mid-August, following a legal battle between its owners Michael Crawley, Tenielle Crawley and Matthew Grippo.
Valley Eyewear was founded in 2011, before growing its market to more than 20 countries and stocking its products in more than 100 businesses.