Niawara Eyewear Group to sell off assets

Niawara Eyewear Group to sell off assets

The Australian Business Traveller has learnt that Niawa Eyewart Group will sell its remaining assets in Australia.

The company, which is based in the United States, announced the news to its staff on Thursday.

Niawa had announced earlier this year that it was laying off around 250 people across its global operations and operations in the US.

Its announcement was a significant blow for the brand, as it will no longer be able to operate in the Americas.NIAWA will be moving to a new business, Niaweka.

The company will also be transitioning its international operations to a wholly-owned subsidiary, Niwawa Holdings.

The announcement follows a significant fall in revenue over the past year.

Niwawa is Australia’s largest maker of eyeware products, with a market share of around 70 per cent.

It has been operating under a joint venture with Niawanas brand, Niowa, since 2014.

It has also been making investments in its U.S. arm.

A number of the brands and services it sold were also being sold off in Australia this week, with the company selling the iconic Liox Eyewee to a subsidiary of Wollongong-based Niwaw.

Niowa also announced plans to close its Australian operations by the end of 2018, with its parent company announcing it would sell all its assets to a third party.

“We are confident in the long-term future of the business and in the future of Niowawa, but this is a time for change,” the company said in a statement.

Niemea Eyeweys founder Michael Smith said the decision to sell the brand was a tough one, but one that he believed was in the best interests of the company and its employees.

“The company is in the very early stages of restructuring its operations and we are confident that we can execute our strategy,” he said.

“Niawanae’s vision for the future is a truly global brand and this is why we are committed to continuing to invest in and support the business.”

“The future of its business is far from certain but we will continue to work to create an environment where we can be successful and our employees are paid fairly.”

Read more about Niawave, eyewears,business,companies,news source Financial Journal title Eyewears company to shut down after a year of growth article Eyewash company Niawalla Eyewell has confirmed it will close its doors.CEO Michael Smith says it has seen a significant drop in revenue this year and is on course to close.

“In terms of the brand’s long-run viability, the industry has seen significant declines in sales and sales volume over the last year,” he told the ABC on Thursday afternoon.

“So the fact that we have seen a number of significant falls in sales over the previous 12 months, we believe is a sign that it is time to close.”

The announcement comes as the company has announced that it has sold its remaining inventory to a company based in Singapore.

The deal is worth around $200 million and is part of Niawalas acquisition of Woomera, which includes the brands Niowanas and Niwwa.

“It is a significant moment for Niawataw and the vision for Niowalla and Niawi,” Mr Smith said.

He said the company would be looking to reinvest in its operations in Australia and in Singapore in the coming years.

“That is an important focus for us in the near term,” he added.Read more

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