The near century-old vacuum cleaner retailer Godfreys will shut down, leaving hundreds of people out of a job after administrators failed to sell the business.
Godfreys’ administrators PwC said it conducted a comprehensive sale process but no viable offers were submitted. PwC had been working on a restructure plan and hoped to return it to profitability by closing stores and cutting costs. Now an estimated 200 staff are out of work – nearly all in Australia.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com