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HomeminewsClive and Wally Goes into Voluntary Liquidation

Clive and Wally Goes into Voluntary Liquidation

Australian eyewear manufacturer Clive and Wally – understood to be the last remaining spectacle frame manufacturer – has been placed in voluntary liquidation.

The Director and members of Clive & Wally Pty Ltd ACN 606 984 703 and Optex Eyewear Pty Ltd ACN 004 962 627 appointed Stefan Dopking and Peter Krejci of BRI Ferrier as Liquidators on 4 December 2017.
The Dubbo-based business commenced operations in Melbourne in 1963, then known as Optic Eyewear and subsequently Optex Eyewear Pty Ltd. It was rebranded as Clive & Wally Eyewear in 2015 having been purchased by business entrepreneurs John Hansen and Gino Trigatti. At that time, Mr. Hansen said although the investment had been significant there was “huge potential” for the business given that it was positioned to produce high quality eyewear that could compete on price with Chinese and Indian manufacturers.

Clive & Wally’s house brand, which had been restricted to optical, was expanded to include acetate sunglasses and the company began producing frames for independent Australian designed brands.
According to Clive & Wally’s website, “the Liquidators intend to undertake a marketed sale process for the business, with a number of interested parties already identified. The business will close for the Christmas period this week. An initial notice to creditors will be issued to all creditors next week with a more detailed report within three months of the Liquidators appointment.

“The owners placed the companies in voluntary liquidation to provide the best possible outcome for all stakeholders being, creditors, employees and customers. The companies have minimal debt other than amounts owed to the ownership group.”

Please contact Stefan Dopking from BRI Ferrier (AUS) 0412 967 430 for any queries.