Warehouse Group [NZX: WHS], New Zealand's largest retailer, will take over five Auckland store leases and offer employment to staff when Australian discount electrical goods retailer The Good Guys exits the New Zealand market.
Auckland-based Warehouse will take over leases at Albany, Wairau Park, Manukau, Botany and Sylvia Park and utilise the spaces across a mix of its brands which include The Warehouse, Warehouse Stationery, Noel Lemming Group, Torpedo 7 and R&R Sports, Warehouse chief executive Mark Powell said in a statement.
Warehouse said it would offer employment to as many of the Good Guys workers as possible and allow customers to return faulty product through its Noel Leeming appliance stores.
The Australian appliance chain was founded in 1952 and has 97 stores in Australia, according to its website.
The shares rose 0.3 percent to $3.09 today, and have slid 18 percent this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Listen to the week's top business news in NBR Radio's weekend review
- Matthew Hooton discusses Labour's extreme left takeover
- Rodney Hide on how the TPP debate has become a moral argument
- Wick Nixon on how she's saving parents' sanity, one lunchbox at a time
- Tim Hunter talks about the legal dispute between Pyne Gould Corporation and Bath Street Capital