An iconic Australian retailer known for its vacuum cleaners has collapsed into administration, with nearly 200 expected to be out of a job.
Godfreys Group on Tuesday appointed voluntary administrators, citing cost-of-living pressures and inflation as the causes of its downfall.
Craig Crosbie, Robert Ditrich and Daniel Walley from PwC Australia have been appointed as administrators.
Meanwhile, Stephen White and John Fisk of PwC New Zealand have been appointed as administrators of the New Zealand branch.
The company is expected to continue operations during the operational restructure and sale process.
However, about 54 stores are expected to close in coming weeks, five of which are in New Zealand.
Godfreys was established in 1931 and is best kn…
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