Queensland ethical jewellery retailer Secrets Shhh has fallen into voluntary administration, with its custodians reportedly seeking an urgent sale or recapitalisation for the 25-year-old business.
Documents shared by the Australian Securities and Investments Commission on Tuesday show FTI Consulting’s Kelly-Anne Trenfield, John Park, and Kate Warwick were appointed joint administrators of Secrets Shh Pty Ltd and eight related businesses.
Secrets Shhh, which sells lab-grown alternatives to mined gemstones, counts 23 physical stores across across the country and an online webstore.
In a statement provided to SmartCompany, Park said the businesses continue to trade “as usual as much as possible” while the administrators seek buyers or new financial backers.
Its online store remains operational at the time of writing, with a Christmas sale still in effect.