Stores will remain open until May 31 to give staff a chance to clear existing stock – but after that, more than 600 jobs and 87 stores will be shut.
Godfreys is set to disappear from the Australian retail landscape after administrators failed to find a buyer for the 193-year-old business.after failing to stay relevant in a fast-paced retail environment, will begin winding down its remaining 87 stores and eventually let go of more than 600 staff.PwC administrator Craig Crosbie said while he received 55 expressions of interest and six indicative offers, these were either withdrawn eventually or were not enough to keep the business alive.
“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.”Godfreys stores will remain open over the next two months to allow for the chance to clear existing stock before all stores are due to shut on May 31.
“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.”Administrators have already shut 54 stores and axed nearly 200 jobs after taking over the business in late January.
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