More than 50 Godfreys stores will be closing in two weeks, but it is not known if any of those will be in Geelong or Werribee.
The vacuum retailer announced on Tuesday it is entering voluntary administration, as it faces a challenging economic and operating environment.
Godfreys was established in 1931, operating 141 stores across Australia and New Zealand.
Two of those shops are in Geelong with another in Hoppers Crossing.
The imminent closure of 54 stores is expected to see almost 200 jobs go.
Three partners from PricewaterhouseCoopers have been appointed as the administrators for the Australian stores.
They are hoping to sell the restructured business as a going concern.
It is understood there is already strong interest from prospective buyers.