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News

Liquidators appointed to Healy Optical Group

20/03/2019By Myles Hume
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Australian eyewear distributor Healy Optical Group has been placed into liquidation, after almost 45 years in business.

A staff member at its Sydney office in Lane Cove West confirmed the company’s financial troubles when contacted by Insight, however, representatives were unavailable for comment and said to be occupied in meetings.

According to a notice on the Australian Securities and Investments Commission (ASIC) website, company members agreed at a general meeting on 8 March to wind up Healy Optical Group, and approved the appointment of liquidators Mr Michael Hogan and Mr Brendan Copeland from the accounting firm HoganSprowles.

ASIC records state the company was registered in Tasmania in 1982, and lists Mr David Healy, of Mosman, New South Wales, as the company director and majority shareholder.

According to the Healy Optical Group website, its business activities actually date back seven years earlier to 1975, when it began operating as a regional optical frames and accessories wholesaler. It claims that the company continued to expand throughout Australia and New Zealand to eventually become a leading independent distributor of sunglasses and optics in high-end fashion and mainstream brands.

The company – which had at least 49 stockists – represented international fashion brands such as Tom Ford, Roberto Cavalli, Tods, Dsquared2, Lafont, Swarovski, Mont Blanc and Balenciaga & Cat. Its business also extended into distribution of spectacle cases, cleaning cloths and clip on sunglasses.

Insight sought comment from the HoganSprowles liquidators and Healy Optical Group management, however, there was no response at the time of publication.

It is unclear what led to the liquidation, how much creditors claim to be owed, or what the future holds for the company’s employees.

However, according to the ASIC website, the liquidators’ role will now entail collation, protection and realisation of the company’s assets, an investigation and creditors’ report into the company affairs, an inquiry into its failure and, finally, distribution of proceeds to creditors.

GLAUKOS
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