Administrators appointed across Secrets Shhh Group

Secrets Shhh Pty Ltd, its parent Secrets International Pty Ltd, and seven affiliated entities within the Secrets Group have entered voluntary administration, placing one of Australia’s more prominent affordable jewellery retailers into formal insolvency proceedings.

John Park, Kate Warwick and Kelly-Anne Trenfield of FTI Consulting were appointed voluntary administrators on 10 December. The appointments extend across the group’s operating, wholesale, online, leasing and franchising entities, reflecting the integrated structure underpinning the retailer’s national footprint.

The Secrets Group trades through 23 physical stores across Australia as well as an online platform, marketing jewellery made from laboratory-grown and simulated diamonds as an alternative to mined stones. Administrators have taken control of the businesses and commenced an urgent review of operations, alongside a sales and recapitalisation process aimed at identifying a buyer or investor.

Trading has continued following the appointments, subject to stock availability and operational constraints. The administrators have indicated that the group will seek to fulfil customer orders placed after the appointment date where possible, while assessing inventory levels, supplier arrangements and cash flow. Gift cards and store credits remain usable on a spend-and-redeem basis during the administration period.

The group’s collapse adds to a growing list of discretionary retail insolvencies, as operators contend with subdued consumer spending, elevated operating costs and persistent margin pressure. Jewellery retailers have also faced heightened competition from online-only platforms and international entrants, complicating efforts to maintain store-based networks.