Coogans to shut up shop after 150 years of operation

A family-run Tasmanian business will shut down after almost 150 years of operation at the end of the financial year.

Coogans CEO Chris Brown at the Hobart store. Coogans is closing its Hobart store after over a 100 years. Picture: LUKE BOWDEN

A FAMILY-RUN Tasmanian business will shut down after almost 150 years of operation at the end of the financial year.

Furniture and electrical retailer Coogans, based in Moonah, will close its doors by the end of June, chief executive Chris Brown told the Mercury on Tuesday morning.

Mr Brown is the great-great-grandson of William Coogan, who established the family business in Launceston in 1876.

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

MORE: HISTORIC STORE TO SHUT UP CITY SHOP

The showroom in Brisbane Street, Launceston in 1886 Picture: LUKE BOWDEN

Mr Brown said the 35 staff remaining at the Moonah store had been informed of the decision to close down the business, which had been made by the board.

“All of our shareholders have been involved in the business a very long time and they’re all getting old and they want to realise their cash that’s tied up in the business,” he said.

“Our finance part of the business has always been quite strong and kept things ticking along, but the reality is the board has decided they want to close everything down.

“We’re really sad to be closing down and want to sincerely thank all our customers who have supported us for so many years.”

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The Mercury understands that a formal offer was put forward to the board to buy out the business, but this was rejected.

Mr Brown said the store would likely have a closing down sale of sorts, but that was still being worked through.

“Because the business is incredibly solvent, it will be a matter of appropriately working through our stock,” he said.

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

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

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