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AAP

Business

Derek Rose

Godfreys enters administration, with 54 stores to close

PwC Australia New Zealand

Godfreys store network is expected to be reduced from 169 to 115 as a result of restructuring. (Dan Peled/AAP PHOTOS)

Leading vacuum retailer Godfreys Group has entered voluntary administration, a process expected to result in the closure of 54 stores within the next fortnight and the loss of nearly 200 jobs.

Three partners of PricewaterhouseCoopers (PwC) Australia have been appointed as voluntary administrators of Godfreys' Australian entities, with two PwC partners from New Zealand appointed over its New Zealand subsidiary, PwC announced on Tuesday.

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