Leading Aussie vacuum retailer Godfreys Group has collapsed less than two months after it entered voluntary administration, with an estimated 193 jobs expected to be axed.
Godfreys Group today announced it will commence "a progressive wind-down of operations" in Australia and New Zealand after administrators were unable to find a new buyer.
In a statement, administrators said that "after conducting a comprehensive process to identify a purchaser for the business" there were "no viable offers to take the business forward"."This is not the outcome Godfreys had hoped for following a rigorous process to find a purchaser for the business that could keep the store network trading," Administrator and PwC Australia Partner Craig Crosbie said.
"In the absence of any further bidders coming forward as intermittent trading continues, the process of closing all remaining stores will progress over the next eight weeks. "We recognise this is a difficult time for staff, franchisees, and other stakeholders, and we will continue to work closely with all parties to ensure they are informed and supported over the coming weeks."'I died when he did': Mum's devastation after lawyer killed in Sydney
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