Vacuum cleaner retail chain Godfreys has collapsed, with cost of living pressures blamed for fewer sales and contributing to a “challenging economic and operating environment” for the business to remain viable.
Since its establishment in 1931, Godfreys evolved to become one of the world’s biggest vacuum cleaner retailers, and operates 141 stores employing more than 600 people across Australia and New Zealand.
On Tuesday afternoon, Godfreys announced it had entered voluntary administration, appointing PricewaterhouseCoopers (PwC) to oversee the process.
In a statement, the administrators said the Godfreys business would continue to trade while it undergoes an “immediate” restructure of its operations, which is expected to result in the closure of 54 stores and loss of 193 staff in the next 14 days.
“Like many retailers, Godfreys has faced a challenging economic and…