Search for new Godfreys buyer called off months after brand goes into administration
The search for a new owner of Australian vacuum and cleaning brand Godfreys has officially been called off.
The popular brand, whose agency roster included Thinkerbell, Hardhat, Hello Social and Nunn Media, went into voluntary administration after 93 years in market in January.
While it was hoped that a new buyer could be found by PwC’s Craig Crosbie, Robert Ditrich and Daniel Walley who were appointed as the voluntary administrators in Australia, it has now been confirmed via news.com.au that the search has been called off.
In a statement issued on Wednesday, Crosbie, Ditrich and Walley said that after a “comprehensive process… no viable offers to take the business forward as a going concern have been submitted”.
It has been confirmed that all 160 Godfreys stores will close, while 600 employees will also be without a job.
The closures of these stores will take place between now and May 31.
PwC noted that 55 expressions of interest and six indicative offers were put forward, however “with interested parties withdrawing and no satisfactory bids to acquire Godfreys store network yet received, the administrators have no other option but to commence a progressive wind-down of Godfreys’ operations in Australia and New Zealand”.
In August 2022, Hardhat was selected by the brand to boost its online presence and end-to-end customer experience.
Two months later, Hello Social was engaged to better connect its physical and digital efforts under a streamlined customer experience – with a focus on social content and engagement.
Then late last year, branding agency Principals was tapped to refresh the brand, with new brand strategy, tone of voice and visual identity.
Nunn Media held Godfreys media account.
In September last year, Thinkerbell was appointed as Godfreys creative partner, launching a new brand platform, ‘Feel Free’.
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What an absolute mess of a business. Feel Free? You’ve got to be joking!
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