Godfreys store. Photo: Google Maps
Australian and New Zealand vacuum cleaner group Godfreys has placed itself in voluntary administration.
Established in 1931, Godfreys business operates 141 stores and employs more than 600 staff in Australia and New Zealand, with an additional 28 stores run by franchisees.
There are 16 company stores in New Zealand and nine franchised stores, with about five company stores expected to be closed down.
Stephen White and John Fisk of PwC New Zealand have been appointed as Voluntary Administrators.
"John Fisk and I will be working closely with the Australian administrators and Godfreys Group management to continue trading the restructured New Zealand store network during the administration in order to maximise the prospects of a going concern sale," White said.
During the administration period, the business will continue to trade while the administrator, PwC, undertakes an operational restructure and sale process.
The administrators will be briefing staff and contacting customers, suppliers and other stakeholders in the coming days about the impact of the decision.
