More jobs axed with closure of Godfreys department store in Lowestoft
12:50 08 September 2015
The Godfreys department store in Lowestoft has closed with the loss of a further 13 jobs.
The latest redundancies, which leave just two member of staff in place, are in addition to 24 job losses already announced by administrators Matt Howard and Stuart Morton, of chartered accountants and business advisers Price Bailey, who were appointed to August 19.
Mr Morton said the store had been closed due to reduced stock levels but parts of the business could still be saved, with talks continuing with a number of parties. He said: “While we continue to talk to a number of interested parties, stock levels in the store have dropped significantly and therefore regrettably we closed the store on Friday September 4, at 3pm.
“Unfortunately, therefore, we have had to make 13 more staff redundant which leaves two remaining. But we are still optimistic that parts of the store will reopen, depending on how our negotiations develop. We hope to be able to make an announcement about purchasers of parts of the business shortly.”
The administrators say that, since the beginning of the recession in 2008, Godfreys has been “severely” hit by the changing shift in retail shopping habits and the retail economy in general.
“Lowestoft as a town has suffered from the downturn and the company saw customers stopping coming into the town to shop like they used to,” they added.
“The changing road system in the town has also gradually put people off coming into the town centre and its once loyal customers started to shop at retail parks in out of town locations and online.”