Tasmanian family-run business Coogans to close its door for the final time today

Tasmanian furniture institution Coogans comes to a close today, but there’s no need to despair as the name may not disappear completely.

Coogans chief executive Chris Brown, whose great great grandfather started the business over a century ago, with Chairman John McClea. Picture: RICHARD JUPE

FROM nuns in the boardroom to delivering furniture on a horse and cart the history of Tasmanian institution Coogans comes to a close today, but the name may not completely disappear.

The retail icon of 143 years closes the doors of its Moonah store at 4pm, but the finance arm of the company may continue.

Current chief executive Chris Brown is the great-great-grandson of founder William Coogan, who established the family business in Launceston in 1876.

The first Coogans factory in Launceston, in 1883.

By the time Coogan became the Mayor of Launceston in 1917, the company was one of the biggest furniture manufacturers in the southern hemisphere.

At its peak under his stewardship, Coogan had 400 people working in the manufacturing and retail premises.

Coogans opened the furniture factory in Hobart in 1903 and began offering a payment plan for the purchase of furniture, which had been a feature of the business ever since.

In 1912, Coogans opened its Collins St showroom. Coogans’ Launceston store closed in 1978.

At the start of this year, the business was consolidated to the Moonah store after the Hobart city store closed down after more than 100 years of trading in Collins St.

The showroom in Brisbane Street, Launceston in 1886.

Chairman John McClea — whose wife was the great granddaughter of William Coogan — said it had become difficult to compete with the big chain retailers such as Harvey Norman, The Good Guys and JB Hi Fi.

“They’ve just got so much buying power,” he told the Sunday Tasmanian.

“We tried four years ago to revamp the company, change the logos, but it didn’t work. We’ve tried hard and spent a lot of money — we’ve just had to bite the bullet in the end.”

The finance wing of the company looks set to remain however, run by Mr Brown, once he receives approval from the board.

“Most of the asset base for the company for about the last 60 years, since we stopped manufacturing, has been the finance side, which has meant it’s been difficult to compete as a retailer,” Mr Brown said.

Both the Hobart and Moonah properties remain on the market, with a number of offers having been made already, Mr McClea said.

Coogans site in Hobart. Colliers International and PRD Nationwide has been appointed to offer for sale the Coogans Real Estate Portfolio in Hobart CBD and Moonah.

“This company is not in liquidation — we’ve got money in the bank — we’re not in a rush and not selling it for peanuts,” he said.

The history of the company has been inextricably linked to the history of Tasmania and the longest serving current employee had been with Coogans for 46 years.

“Some staff started as kids and that’s the hardest part about it — they’ve put their whole life into the company,” Mr McClea said.

“When someone did come to retirement age under William Coogan, he would give them 100 shares in the company.

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“There used to be board meetings at my mother in laws house and afterwards they’d have a scotch — that’s when everything was really rocking and rolling.”

“When William Coogan passed away, he bequeathed half the company to the Sisters of Charity — it probably would have been worth about $10m in today’s money,” Mr Brown said.

“I remember my dad talking about board meetings where the nuns would come along and it was quite a sight apparently. In 1984, that relationship was finalised and they built the St Vincents Hospital in Launceston with the money.”

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