Lowestoft department store calls in Price Bailey administrators

Matt Howard, partner, and Stuart Morton, insolvency practitioner, at Price Bailey, have been appointed joint administrators of a major family-run Lowestoft department store, Godfreys of Lowestoft, which has failed to win business despite a TV makeover

Godfreys of Lowestoft has been trading in the town for 37 years, and was featured in the Channel 4 television series ‘Secret Shopper’ last year when retail guru Mary Portas spent five weeks advising the brother and sister who run the business on how to turn it around.

Matt Howard, insolvency and recovery partner at Price Bailey and joint administrator, said: ‘We are working with the management to review the company’s position and formulate a strategy. All 39 staff have been informed and further information will be released in due course.’

Price Bailey said it is keen to talk to any interested parties at an early stage.

Sign up to our newsletter

If you would like to receive regular news alerts about breaking news and developments in tax, accounting and audit, sign up to receive our free newsletter

Pat Sweet |Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

View profile and articles

0
Be the first to vote

Rate this article

Related Articles
Subscribe