Warehouse Group pounces as electronics retailer leaves NZ market...

Discount electrical goods retailer Good Guys has decided to leave the New Zealand market, with The Warehouse Group taking over the company's appliance stores in Auckland.

According to The Warehouse CEO Mark Powell, both will work together to minimise disruption and any potential impact to customers, employees and store landlords as Good Guys exits the market.

Powell says that while they were not acquiring the Good Guys business, after the Good Guys stores have closed The Warehouse will take on the five Good Guys stores site leases, work with Good Guys to offer as many as possible of their employees alternative employment and would use Noel Leeming stores to allow former Good Guys customers to return faulty product.

“Our goal is to minimise the impact of Good Guys closure on its team members, customers, landlords, and the wider business community,” he says.

The Warehouse will take over the lease of the five Good Guys stores at Albany, Wairau Park, Manukau, Botany and Sylvia Park.

Powell says the company would look to utilise these retail spaces across a mix of its retail brands with the business comprising of The Warehouse, Warehouse Stationery, Noel Leeming Group, Torpedo 7 and R&R Sports.

Powell adds that the transition arrangement offered benefits to the The Warehouse, including an ability to expand its store networks in additional locations, as well as the potential to add new experienced retail team members in the Auckland region.