COX BROS. STORES
Big Loss In Sales (N.Z. Press Assn.—Copyright) MELBOURNE,’August 29. Cox Bros. (Australia), Ltd. (receiver and manager appointed) incufred a “substantial” loss on the book value of stores it sold recently to Wool wot ths, 'Ltd. The directors say this in a quarterly, report to the trustee for debenture holders, as required ■by the Companies Act. 7 The directors say the amount of the loss is as yet not determined. Directors of ‘ Cox Finance Corporation, Ltd., the Cox Bros., ‘ finance: offshoot, also filed a quarterly debenture report today. Adversely Affected In it they say that in the three months to July 31 the security and interests of Cox Finance debenture holders have continued to be adversely affected by the appointment of the Cox Bros, receiver. This is because the receiver has withheld certain money due to Cox Finance and failed to observe certain provisions of the agreements under which the company bought accounts receivable.
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Bibliographic details
Press, Volume CVII, Issue 31461, 30 August 1967, Page 19
Word Count
156COX BROS. STORES Press, Volume CVII, Issue 31461, 30 August 1967, Page 19
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