June
Godfreys creditors wiped out after plans to sell retailer collapse
The company’s administrator, PwC, says it has succumbed to fierce price competition, souring consumer sentiment and a flawed strategy of buying out franchisees.
- Simon Evans
March
Vacuum retailer Godfreys to shut after failed sales process
After a century of business, the iconic vacuum cleaner retailer will close following a failed sales process by administrators.
- Carrie LaFrenz
February
Retailers bank on tax and rate cuts to overcome sluggish year ahead
The next year is expected to be one of the slowest in the past decade, with store owners already reporting sluggish sales in December and January.
- Carrie LaFrenz
January
- Updated
- Appliances
Godfreys goes bust, shuttering 50 stores and sacking staff
The vacuum cleaner retailer’s first store opened in 1931, but its finances have deteriorated in recent years as customers ditch old-school brands.
- Updated
- Carrie LaFrenz and Simon Evans
November 2018
100-year-old Godfreys owner John Johnston dies
The 100-year-old owner of the Godfreys retail chain has died five months after a successful takeover of the struggling business.
- Updated
- Simon Evans
July 2018
Godfreys owner celebrates 100th birthday by mopping up takeover holdouts
The new owner of Godfreys is celebrating his 100th birthday by starting the process of mopping up the shares owned by 357 holdouts.
- Updated
- Simon Evans
99-year-old Godfreys owner John Johnston eyes social media sizzle
"I don't think we're doing enough on social media," John Johnston told his new lieutenant at Godfreys as the pair embarked on a turnaround.
- Updated
- Simon Evans
June 2018
John Johnston, 99, has uphill battle after big Godfreys downgrade
Sales have tumbled an alarming 15 per cent in June at Godfreys, triggering another big profit downgrade and fresh woes for its 99-year-old new owner.
- Updated
- Simon Evans
Godfreys warns of cash flow squeeze
The 99-year-old who now controls retailer Godfreys has warned of a cash flow squeeze in July and the likelihood of another profit downgrade.
- Updated
- Simon Evans
May 2018
Godfreys hires 74-year-old John Hardy for third CEO stint
Stricken retailer Godfreys has appointed John Hardy as an interim chief executive as he returns for a third stint running the vacuum cleaner retailer.
- Updated
- Simon Evans
Ailing Godfreys hires lawyer Nick Stretch as new chairman
The 99-year-old co-founder of Godfreys has appointed Melbourne lawyer Nick Stretch as chairman.
- Updated
- Simon Evans
John Johnston, 99-year-old co-founder, wins control of Godfreys
It's been a long road, but 99-year-old co-founder John Johnston has secured control of vacuum cleaner retailer Godfreys.
- Updated
- Simon Evans
99-year-old John Johnston lifts Godfreys takeover bid
The 99-year-old major shareholder of beleaguered Godfreys has lifted his takeover bid for the retailer.
- Updated
- Simon Evans
How Godfreys missed the stick vacuum shift and crashed
Half the vacuum cleaners sold in the $1.3 billion market are now cordless stick vacuums, but Godfreys missed the shift and put itself in peril.
- Updated
- Simon Evans
Godfreys hoists white flag on John Johnston takeover bid, downgrades profit
The Godfreys board has hoisted the white flag on a takeover bid by 99-year-old John Johnston after it revealed a profit downgrade of at least 30 per cent.
- Updated
- Simon Evans
Godfreys in ASX halt amid profit downgrade fears
Godfreys' trading halt left the 99-year-old major shareholder behind a takeover bid in the dark about whether more bad news could be on the way.
- Updated
- Simon Evans
April 2018
Godfreys warns of soft trading and covenant breach
Takeover target Godfreys has warned of soft trading conditions as 99-year-old major shareholder turns the screws on a financing deal.
- Updated
- Simon Evans
Godfreys board says do nothing on the takeover bid by 99-year-old John Johnston
Time is running out for 99-year-old John Johnston as he pursues a second Alan Bond moment in his $13 million takeover bid for Godfreys.
- Updated
- Simon Evans
John Johnston, 99, makes takeover bid for vacuum cleaner retailer Godfreys
Godfreys' major shareholder, John Johnston, who turns 100 in July, has launched an all-cash takeover bid for the battling retailer.
- Updated
- Simon Evans
February 2018
Godfreys scraps dividend payments as CEO Jason Gowie embarks on urgent overhaul
Godfreys' new CEO says the 222-store chain needs to modernise fast as he attempts to arrest an alarming sales decline.
- Updated
- Simon Evans