Vacuum cleaner retailer Godfreys collapses after 93 years
Vacuum cleaner retailer Godfreys has collapsed into administration and announced it will shut 54 stores and axe nearly 200 jobs in the next fortnight, leaving its 93-year history of trading hanging in the balance.
The business, founded in 1931 during the Great Depression, has appointed PwC Australia as voluntary administrators after struggling to recover from the COVID lockdowns and contending with a tougher economy and lower sales.
“Sadly, like many retailers, we have been heavily impacted by consumer confidence and spending due to the economic era of high inflation, rising interest rates, and intense cost-of-living pressures,” said Jane Allen, the daughter of Godfreys co-founder John Johnston, in a statement.
“We are also still suffering from the unprecedented business disruptions of the COVID-19 pandemic.
“While it’s deeply regrettable, we need to take this action. This decision has been made in the best interests of our employees, together with our customers – it’s about securing the company’s future.”
Godfreys operates 141 stores and has more than 600 staff across Australia and New Zealand, with a further 28 stores run by franchisees.