30 Jun 2014

Electronics retailer pulling out of NZ

2:50 pm on 30 June 2014

Nearly 100 jobs are on the line after an Australian electronics retailer announced it will close its New Zealand stores.

The Good Guys will close its five Auckland stores in the first half of August, with The Warehouse Group agreeing to take over leases for the sites.

A spokesperson for the business says 98 New Zealand employees will be given the option of applying for jobs with The Warehouse Group.

However, she said The Good Guys cannot guarantee that The Warehouse Group would be able to take them all on.

Good Guys chairperson Andrew Muir said on Monday the business is leaving the New Zealand market because it would require too much extra investment to deliver acceptable profits.

Mr Muir said Noel Leeming's stores, which are owned by The Warehouse Group, have agreed to honour customer warranties and returns.