Celebrity-Backed Valley Eyewear Collapses Into Liquidation, Burleigh Heads Optometry Practice Caught Up in Fallout
Gold Coast sunglasses label Valley Eyewear, a fixture on optical shop floors and a favourite of Chris Hemsworth, Margot Robbie and Kanye West, has been placed into liquidation, with court-appointed liquidators now running an urgent fire sale of more than $600,000 in stock, optical equipment and the business itself.
The collapse will be of particular interest to independent optometrists and optical retailers who stock the brand, given a related company, House of Valley Pty Ltd, operated Valley's own bricks-and-mortar optometry practice and flagship store in Burleigh Heads, and has also gone into liquidation.
What happened
The Federal Court made winding-up orders against Valley Eyewear Pty Ltd and House of Valley Pty Ltd on 11 August 2026, according to a notice published by the Australian Securities and Investments Commission. James Robba and Jason Bettles of insolvency firm Worrells were appointed liquidators of both entities.
The order was reportedly sought by co-founders Michael and Tenielle Crawley against the companies and against fellow co-founder Matthew Grippo and Tracey Grippo, following what several outlets describe as a falling-out between the business partners. The precise grounds for the winding-up order have not been made public, though the Courier Mail, which broke the story, reported that Valley Eyewear's financial records show debts owed to suppliers, banks, utility providers and email service providers.
Despite the liquidation, Robba has confirmed the business is continuing to trade as normal while a sale process runs.
The sale
Liquidators have engaged Argus Auctions to run an expressions-of-interest campaign, with a deadline today, 24 August 2026. The assets on offer include:
- More than $600,000 in new eyewear stock
- Optical equipment and machinery
- Motor vehicles, plant and equipment
- Intellectual property and the Valley Eyewear brand
- Customer databases and digital/social media assets
- The business itself, held at sites in Burleigh Heads and Currumbin Waters
"We are working closely with the directors, staff and other key stakeholders whilst commencing an urgent sale campaign for the business," Robba said in a statement. "Our objective is to give interested parties the opportunity to acquire the business of the companies, whilst seeking to maximise the outcome for all stakeholders."
Background on the brand
Valley Eyewear was founded in 2011 by Michael Crawley, a former Quiksilver marketing hand, his wife Tenielle Crawley, who had worked at Roxy, and business partner Matthew Grippo. Starting as a fashion-forward sunglasses label, it grew into an internationally recognised brand sold through more than 100 Australian stockists and in more than 20 countries, alongside a strong direct-to-consumer and social media presence.
In 2024 the founders expanded into clinical optometry, opening a flagship store and in-house, Medicare-eligible optometry practice on James Street in Burleigh Heads through the House of Valley entity, a move that positioned Valley as both a wholesale eyewear brand and a vertically integrated retail-and-clinical operation. That practice is now part of the liquidation and asset sale.
A complicating twist
Corporate records add an unusual wrinkle for stockists and suppliers watching the situation: two days before the liquidation orders were made, Tenielle Crawley registered a new company, Valley Eyewear Group, with co-director Robert Fullagar. The Crawleys also set up a separate entity, Crawley Family Holdings, on the same day, which now holds majority ownership of the new Valley Eyewear Group company. Neither Michael Crawley nor Matthew Grippo had responded to requests for comment from Australian media at the time of the original reports.
What it means for the sector
For optometrists and optical dispensers, the immediate practical questions are around existing wholesale orders, warranty and repair support for Valley frames already in circulation, and the status of any consignment or stockist arrangements. The liquidators have indicated they will provide further information to creditors, employees and other stakeholders as the sale process progresses.
The collapse adds Valley Eyewear to a run of Australian consumer and retail brand insolvencies in 2026, and is a reminder for practices retailing third-party fashion eyewear lines to keep an eye on supplier financial health, particularly where a brand, as with Valley, has also become a direct competitor through its own retail and clinical footprint.
