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Godfreys’ creditors won't get A$43m owed

Best deal administrators could get sees Godfrey's assets bought by owner's other company and employees' full entitlements paid.

The business operated 141 stores with another 28 outlets run by franchisees.

Dan Purves Wed, 05 Jun 2024

Godfreys’ creditors have unanimously voted for a structured selling of the retailer's remaining assets to secured lender 1918 Finance, instead of a more immediate liquidation of its assets.

The finance company is part owned by the Johnston family who were also the owners of the now defunct vacuum

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Dan Purves Wed, 05 Jun 2024
Contact the Writer: dpurves@nbr.co.nz
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Godfreys’ creditors won't get A$43m owed
Retail,
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