Gold Coast brand Valley Eyewear is fielding multiple formal offers more than a month after it was forced into liquidation.
The formal offers come in a sale process that has reportedly attracted 120 expressions of interest from around the world.
This comes more than a month after the eyewear brand was forced into liquidation by the Queensland Federal Court, which appointed Jason Bettles and James Robba from Worrells to oversee the liquidation process.
Local reports claimed that this sale includes $600,000 worth of stock, optical equipment, IP, customer databases as well as digital and social media assets.
According to Worrells, the sale process has attracted significant market interest, including 120 registrations of interest, 72 executed confidentiality agreements and seven formal written offers, all coming from across Australia, New Zealand, Asia and the United States.
This process was supported by extensive marketing activity, which generated more than 427,000 online advertisement views, more than 200,000 website feature impressions and approximately 205 direct enquiry calls during the campaign period.
“There was considerable interest from prospective purchasers throughout the campaign, which culminated in multiple competitive offers being submitted for our consideration,” co-liquidator Robba said.
“The level of engagement reflected the strength of the Valley Eyewear brand and its long-standing reputation within the international eyewear market.
“We expect the outcome achieved through the sale process will result in a return to creditors of the companies.
“Our objective throughout the process was to maximise the outcome available to stakeholders, and the level of market participation provided a solid platform to achieve that objective.”
The brand was founded in 2011 by Michael Crawley and his wife Tenielle. Today, the brand operates its own website in Australia and sells through select retailers across 23 countries.
Valley Eyewear also operated a flagship store and optometry in Burleigh Heads, Queensland, up until its liquidation.