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End of an Era: Godfreys Vacuum Cleaner Retail Chain to Shut Down Permanently

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8 months ago

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End Of An Era: Godfreys Vacuum Cleaner Retail Chain To Shut Down Permanently

Australian and New Zealand-based vacuum cleaner retail chain Godfreys is set to close permanently by the end of May as administrators fail to find a buyer to save the struggling business.

PricewaterhouseCoopers (PwC) confirmed the closure of all 141 Godfreys stores across Australia and New Zealand after a failed attempt to secure a purchase for the retailer. The collapse of Godfreys in late January was attributed to a challenging economic environment that led to a decline in sales.

Despite receiving 55 expressions of interest and six indicative offers, administrators under Craig Crosbie were unable to find a viable buyer for the business. As a result, the Godfreys stores will begin a phased closure process until the end of May.

The vacuum retailer, originally established in 1931, had grown to become one of the world’s largest with more than 220 locations at its peak. A listed company on the Australian Securities Exchange (ASX), Godfreys faced tough competition from Harvey Norman, JB Hi-Fi, Amazon, and Kogan.com, ultimately leading to its demise.

Rachel Adams

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