Big names, major changes

Godfreys-WyndamDirectors of Godfreys Group have recommended shareholders accept the 32 cents a share takeover offer from the original founder of the cleaning business, John Johnson.

The price represents a miserable return for shareholders but represents a case of something is better than nothing with uncertainty around the future of the Godfreys chain.

Godfreys has been in decline since 2006 when the then 151-strong store chain was acquired for $300 million by Pacific Equity Partners and CCMP Capital Asia.

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