Australian electrical retailer Good Guys is pulling out of the New Zealand market, blaming the decision on unacceptable financial returns from its small-scale business.
Ninety-eight New Zealand staff will be put out of work, although local listed retailer The Warehouse Group has said it will find jobs for as many as possible.
The Warehouse is also taking over the lease of the five Good Guys stores in Auckland's Albany, Wairau Park, Manukau, Botany and Sylvia Park.
The Warehouse Group chief executive Mark Powell said the ability to expand its store network and hire experienced retail staff was a benefit to the company.
The stores will be used across a mix of the group's brands, which are The Warehouse, Warehouse Stationery, Noel Leeming, Torpedo 7 and R&R Sports.
Former Good Guys customers will be able to return faulty products at Noel Leeming stores.