‘It doesn’t matter how you fall; it’s all about how you rise’: Godfreys returns after dramatic 2024 collapse
Godfreys has returned to the Australian marketplace, after the 94-year-old retailer fell into administration a year ago.
The floor care and cleaning retailer has returned as an online hub, under new owner Future Innovation Holdings, who acquired the brands and assets last June, with a view to relaunching the brand as an online offering.
This echoes the resurrection of Dick Smith Electronics, which collapsed in 2016, with its online assets and branding acquired by Kogan.com, who folded the brand into its portfolio.
“A new era begins with our online sales channel that will bring back some of Australia’s iconic floorcare brands such as Wertheim, Pullman, Sauber, I-Vac and Work Hero,” reads a Godfreys LinkedIn post.
“Godfreys has faced challenges, but as they say, it doesn’t matter how you fall; it’s all about how you rise! We are coming back!”
Godfreys was placed into voluntary administration in January after being “hit by conditions beyond our control, including the weakness in discretionary spending by consumers, which has had an ongoing and significant impact on sales”.
By May 31, the company has completed “a progressive wind-down of operations”, with 141 stores in Australia and New Zealand closed.
The new online-only store has launched at godfreys.com.au.
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