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Godfreys Group

June

Godfreys started in 1931 and collapsed in January. The retailer had 140 stores and 650 employees when it went bust.

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

The 100-year-old iconic retailer Godfreys will shut down.

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

Justin Levis, executive director at Cue Clothing, which also own Veronika Maine and Dion Lee, says 2024 will still be tough in retail.

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

A Godfreys store in Camperdown, Sydney on Tuesday. The company is closing more than 50 stores.

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

Godfreys owner John Johnston has died aged 100.

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
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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

Sales have tumbled in June at Godfreys prompting another big profit downgrade.

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
The past decade has been a volatile period for Godfreys.

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
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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

Original URL: https://www.afr.com/company/gfy-o2