Leading retail brands and investment groups have been confirmed among the potential purchasers of the collapsed Godfreys business, ahead of the deadline for offers on 27 February 2024, according to the administrators, PwC.
Working in conjunction with PwC Australia’s corporate advisory team, the administrators said they are pleased with the number of parties that have expressed interest and proceeded into the stage one phase of due diligence.
Administrator and PwC Australia partner, Craig Crosbie said, “The strong interest from potential acquirers of the restructured business is a testament to the enduring Godfreys brand, the loyalty of the customer base and the performance of the Godfreys team across 113 stores in Australia and New Zealand that continue to trade.
“As the cut-off for indicative bids looms, we are encouraged by the appetite among blue chip retailers and investors to take the business forward. The quality and volume of interested parties have exceeded expectations, and we will move confidently towards evaluating the most viable offers.”