Details of Godfreys shortfalls revealed in liquidators’ report

Details of Godfreys shortfalls revealed in liquidators’ report
Godfreys NZ's final day of trading was May 31. (Image: Andrew Warner)
Gregor Thompson
The New Zealand arm of now-defunct commercial floorcare retailer Godfreys – along with the entire Godfreys group – owes more than $64.5 million to secured creditors, according to the liquidators' first report released this week. NZ Vacuum Cleaner Company creditors voted to appoint PwC's Stephen White and John Fisk as liquidators on June 6.Virtually all that $64.5m is made up of a claim by principal creditor 1918 Finance Pty Limited – a company part-owned by the Johnston family who took the Australian vacuum c...

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