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Godfreys shop.
Image: Google Maps
Australian and New Zealand vacuum group Godfreys has actually positioned itself in voluntary administration.
Developed in 1931, Godfreys service runs 141 shops and uses more than 600 personnel in Australia and New Zealand, with an extra 28 shops run by franchisees.
There are 16 business shops in New Zealand and 9 franchised shops, with about 5 business shops anticipated to be shut down.
Stephen White and John Fisk of PwC New Zealand have actually been selected as Voluntary Administrators.
“John Fisk and I will be working carefully with the Australian administrators and Godfreys Group management to continue trading the reorganized New Zealand shop network throughout the administration in order to increase the potential customers of a going issue sale,” White stated.
Throughout the administration duration, business will continue to trade while the administrator, PwC, carries out a functional restructure and sale procedure.
The administrators will be rundown personnel and getting in touch with clients, providers and other stakeholders in the coming days about the effect of the choice.