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.
Key points:
- Godfreys has entered voluntary administration while looking for a potential buyer for the vacuum cleaner retailer
- The business has struggled with maintaining its profitability due to reduced customer demand and higher operational costs
- Administrators expect 54 Godfreys stores will close within the fortnight, affecting 193 jobs in Australia and New Zealand
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 ac…
Read the full article at: https://www.abc.net.au/news/2024-01-30/vacuum-cleaner-retailer-godfreys-enters-voluntary-administration/103404918