Iconic vacuum retailer Godfreys announces closure of stores around the country

Time is up for the Geelong stores of iconic vacuum retailer Godfreys after rescue hopes for the business nosedived.

Godfreys store will be shuttered and its staff without a job as the iconic Australian vacuuming company announced it would be closed for good

The North Geelong and Waurn Ponds Godfreys stores have sold their last vacuum cleaner as the iconic Australian vacuuming company announced it would be closed for good, after no viable offers to buy the struggling business were made.

The retailer, established in 1931 in Australia, appointed voluntary administrators earlier this year, citing cost-of-living pressures and inflation.

It’s understood staff at Godfreys in North Geelong were left in the dark, and were waiting to see what would happen next after administrators were appointed.

The Godfreys store in Waurn Ponds is also permanently closed with the former store in the shopping centre now empty.

Godfreys collapse means 141 stores will be closed and 600 employees will be without work.

On Wednesday, the administrators announced no viable offers had been submitted to take the business forward after they conducted a “comprehensive” process to find a purchaser.

“With interested parties withdrawing and no satisfactory bids to acquire Godfreys store network yet received, the administrators have no other option but to commence a progressive wind-down of Godfreys’ operations in Australia and New Zealand,” they said in a statement.

Craig Crosbie, Robert Ditrich and Daniel Walley from PwC Australia were appointed as administrators on January 30 this year.

Mr Crosbie said 55 expressions of interest and six indicative offers were received during the sales process.

However these offers have since been withdrawn or were determined not to be sufficient in securing the business’s long-term future.

A phased closure of stores will take place between now and May 31, 2024.

Franchisees have been told Godfreys can no longer support them from this week.

Originally published as Iconic vacuum retailer Godfreys announces closure of stores around the country