The first liquidator's report shows the retailer recorded multiple years of trading losses.
A hard and gloomy winter could lie ahead for retailers.
The incorporated society with 24 stores is shifting its strategy away from brick and mortar.
Media reports suggest a buyer for the troubled brand’s local operations has not been forthcoming.
Despite multiple indicative offers a buyer for the long-standing business could not be secured.
More than half of its stores have been closed and a significant number of staff dismissed in a ‘fairly harsh approach’ from liquidator.
The Johnston family will fund Australian operations through administration, but Godfreys NZ trading remains independent.
The iconic Australian floor and cleaning company has collapsed into administration taking its New Zealand operations with it.
‘Re-inventing’ the New Zealand business is taking longer than expected, company says.
The company opened its first New Zealand warehouse in late September, 2022.