Cost of Living Crisis Vacuums up Iconic Australian Retailer

Commentary Another iconic Australian retailer has been sucked into the ever-growing vortex of collapsed businesses, courtesy of Australia’s cost of living crisis. Godfreys, a brand name known in every Australian household, has shut up shop after nearly 100 years of trading. Established in 1931 by Mr. Godfrey Cohen, his business became synonymous with family business enterprise and entrepreneurship. In an era when much of retailing was undertaken by the travelling door-to-door salesman, Godfrey took the gamble of buying some vacuum cleaners and trying his luck in selling them through the family furniture shop. It was a gamble which, over the years, paid handsome dividends for the entrepreneur. Five years later, he established with a partner the first Godfreys store....