The directors of a major family-run Lowestoft department store, Godfreys of Lowestoft, have appointed Matt Howard and Stuart Morton of chartered accountants Price Bailey as joint administrators of the company.
Godfreys of Lowestoft has been trading in the town for 37 years.
Matt Howard, Insolvency & Recovery Partner at Price Bailey stated: “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.”
Stuart Morton added: “We are keen to talk to any interested parties at an early stage. Whilst the future of the business is uncertain it is always our preference to rescue the business and secure as many jobs as possible.”
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