Summary

The company was incorporated in Victoria in 1928, when an amalgamation was effected between Cox Brothers Limited and its two subsidiaries Cox Brothers (Tasmania) Ltd. And Cox Brothers (Adelaide) Ltd. The company was liquidated in 1971.

Details

In 1955, the company acquired the whole of the issued ordinary capital of Foy & Gibson Limited and obtained a controlling interest in Foy & Gibson (WA) Limited.

In March 1959, the company in association with Australian United Corporation Ltd., formed Cox Finance Corporation Ltd. This company was formed to handle the long-term instalments and hirer purchase accounts of the companies within the Cox group.

In the period 1959/60 the company acquired holding in several companies; all purchases were for cash. Starting in early 1959 the issued capital of Waugh's Pty Ltd of Wollongong NSW was purchased and in July 1959, the issued capital of Bright and Hitchcocks (Stores) Limited of Geelong was purchased. In September 1959 the issued stock of Myers (Bendigo) Pty Ltd was acquired. In March 1960, the issued capital of Bowrings (Australia) Ltd. was purchased. In July 1960 the issued capital of Partons Pty. Ltd of Dandenong was acquired. The company took over the issued capital of Moreshead's Pty Ltd of Ballarat in September 1960. Ordinary paid up capital in Georges Holding Limited was acquired in November 1960. In July 1961 the balance of ordinary paid up capital in Foy & Gibson (W.A) Limited was acquired. During this period the company had become one of Australia's major retailers operating over 100 stores in the early 1960s.

The company started to incur loses in 1962/63. During 1962/1963 Australian United Corp. Ltd increased its holdings in Cox Finance Corporation Ltd to 50% with Cox Brothers (Australia) Ltd retaining a 50% interest. In March 1964 Foy & Gibson (W.A) Ltd operating ten stores in W.A were sold to David Jones Ltd.
Mr Noel W. Buckley of Cooper Bros & Co was appointed receiver and manager on August 2 1966. A number of stores were sold in 1967, including the Foys Bourke Street Melbourne store and Economic Stores to Woolworths Ltd.; and "Georges" store in Melbourne to the new public company Georges Australia Ltd.

The company's shares were delisted in December 1968.

Related entries

Timeline

 ? - 1952 The Economic Stores Pty Ltd
  - 1959 Waughs Pty Ltd
 1950 - 1959 Bright and Hitchcocks (Stores) Limited
       1928 - 1971 Cox Brothers (Australia) Limited

Archival resources

University of Melbourne Archives

• Cox Brothers (Australia) Limited records, 1906 - 1969, Acc No 1960.0011; University of Melbourne Archives. Details