Oct 19 (Reuters) - Godfreys Group Ltd
* restructuring costs of up to $2.0 million in fy17
* godfreys to rebalance store portfolio to embrace a franchise-led model
* up to 60 corporate stores to be converted to franchise stores over 3 years
* cash generated from this restructure will be used to reduce debt and pay dividends
* underlying earnings guidance for fy 2017 of sales $180 m - $182 m
* oard will also conduct an assessment of carrying value of intangible assets as a result of strategic review.
* conversion of approximately 18 company stores to franchise stores in fy17 will deliver immediate cash flow benefits Source text for Eikon: Further company coverage: