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More jobs axed with closure of Godfreys department store in Lowestoft

12:50 08 September 2015

Matt Howard, left, and Stuart Morton of chartered accountants and business advisers Price Bailey LLP, who are joint administrators of L.R. Godfrey (Lowestoft) Ltd. They are pictured outside Godfreys of Lowestoft.

Matt Howard, left, and Stuart Morton of chartered accountants and business advisers Price Bailey LLP, who are joint administrators of L.R. Godfrey (Lowestoft) Ltd. They are pictured outside Godfreys of Lowestoft.

Archant

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.”

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5 comments

  • What now for the old shop? Building site?

    Report this comment

    peter waller

    Thursday, September 10, 2015

  • 01204 isnt local its a Bolton area code. Theres an ambulance just gone past my office, you may want to chase that too!!!!

    Report this comment

    Matt Nicholls

    Wednesday, September 9, 2015

  • Oh No !....not more evidence of the tory 'economic recovery' ?.......

    Report this comment

    freedomf

    Wednesday, September 9, 2015

  • Hope you don't charge them double if they contact you like your double comment

    Report this comment

    pandy

    Tuesday, September 8, 2015

  • Terrible news for those who have lost their jobs. I am a specialist employment solicitor with experience helping employees in this situation claim for an additional protective award from the RPO. A Facebook support group has also been set up to help former employees access free advice - Godfreys Redundancy a Support Page. Alternatively please telephone our offices on 01204 527 777

    Report this comment

    LocEmpSol

    Tuesday, September 8, 2015

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