Godfreys stores prepare to shut down in two months [Video]

Godfreys is set to disappear from the Australian retail landscape after administrators failed to find a buyer for the 93-year-old business.

The vacuum retailer, which collapsed in January after failing to stay relevant in a fast-paced retail environment, will begin winding down its remaining 87 stores and eventually let go of more than 600 staff.

PwC administrator Craig Crosbie said while he received 55 expressions of interest and six indicative offers, these were either withdrawn eventually or were not enough to keep the business alive.

“This is not the outcome Godfreys had hoped for following a rigorous process to find a purchaser for the business that could keep the store network trading,” he said in a statement.

“In the absence of any further bidders coming forward as intermittent …