Secrets Shhh administrators confirm sale of business to Amaar Jewels

Administrators of Australian jewellery retailer Secrets Shhh have confirmed the sale of the company’s business and assets to Amaar Jewels Australia Pty Ltd, a subsidiary of Dubai-based Amaar Jewels LLC, following a short marketing process conducted during the voluntary administration of the Secrets Group. The transaction was disclosed in a circular distributed on 20 January 2026.

The Secrets Group, which trades under the Secrets Shhh brand, entered voluntary administration on 10 December 2025, with John Park, Kate Warwick, and Kelly-Anne Trenfield of FTI Consulting appointed as joint and several administrators. The group comprises multiple operating and leasing entities, including Secrets International Pty Ltd, Secrets Shhh Pty Ltd, and related wholesale, franchising, and online businesses.

In their second report to creditors dated 15 January 2026, the administrators outline how they conducted an accelerated sale process, which involved reaching out to 82 potentially interested parties and ultimately resulted in two binding offers being received. At the time of the report, the administrators were working with the preferred bidder to finalise documentation.

A few days later, on 20 January, the administrators advised that binding documents for an asset sale with Amaar Jewels were executed. While the purchase price has not been disclosed, the administrators reported that the transaction involves the transfer of the core business and brand assets to the purchaser, with the intention that the majority of retail operations continue under new ownership. More than 100 jobs will be saved.

In light of the completed sale, the administrators advised creditors that the second meeting of creditors, originally scheduled for 23 January 2026, would be adjourned for up to 45 business days. The adjournment is intended to allow time for the preparation of a supplementary report setting out estimated returns to creditors following completion of the transaction. Despite the sale, the administrators indicated that their recommendation that the companies be wound up remains unchanged.