Queensland-based spectacle brand Valley Eyewear has been forced into liquidation via court order.
The brand’s sister business House of Valley has also been forced into liquidation.
The Queensland Federal Court appointed Jason Bettles and James Robba from Worrells to oversee the liquidation process, with reports indicating that a sale process is now underway.
Local reports claim that this sale includes $600,000 worth of stock, optical equipment, IP, customer databases as well as digital and social media assets.
Valley Eyewear continues to trade normally up until August 24.
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 operates a flagship store and optometry in Burleigh Heads, Queensland.
Ragtrader has reached out to Worrells for more information.