Godfreys’ 99-year-old owner plans to fight back

Original article by Simon Evans
The Australian Financial Review – Page: 13 & 18 : 6-Jul-18

Vacuum cleaner retailer Godfreys Group will be delisted on 6 July, following its purchase by Arcadia Financial for just $13.5 million. Arcade Finance is controlled by John Johnston, who joined Godfreys in 1936. Johnston told Godfreys CEO John Hardy during a recent meeting that he thinks Godfreys should be making more use of social media. Godfreys had a 40 per cent share of the $3 billion vacuum cleaner market in 2006, but Hardy thinks it is now down to 18 per cent.

CORPORATES
GODFREYS GROUP LIMITED – ASX GFY, ARCADE FINANCE PTY LTD, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, WOOLWORTHS GROUP LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, THE GOOD GUYS, BARBEQUES GALORE PTY LTD, SUPER A-MART PTY LTD, LE CORNU LEWIS HANCOCK

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