Michael Hill chief executive Daniel Bracken said it was a sad day for the business.
“We’re extremely disappointed to have to close our Whakatāne store. Our loyal customers will be encouraged to engage with our digital channel and other Michael Hill stores in the Bay of Plenty,” Bracken said.
“Retail crime has had a significant impact on our business in New Zealand, and unfortunately the shutdown of this store is our only option.
“The safety and wellbeing of our team members and customers will always remain our key priority.”
The Whakatāne store was hit in an alleged aggravated burglary last month.
Footage of the incident provided to the Rotorua Daily Post shows a vehicle backing into the front of the store before leaving the scene as people on the street watch, and one person yells at them.
It was also targeted in a smash-and-grab raid in May 2021 where two offenders were caught on CCTV ramming the front of the store with a white flatdeck ute, smashing the glass door and gaining entry.
The camera footage shows the two offenders, well covered to conceal their identities, using a tomahawk to smash the store’s glass cabinets and making off with thousands of dollars’ worth of merchandise.