Bond + Bond to close

Rotorua's Bond + Bond store will close its doors in just over three weeks.

The Warehouse Group yesterday announced it would shut down the Bond + Bond electronics chain and merge it into the larger Noel Leeming network. The Warehouse bought the Noel Leeming Group, which operates Bond + Bond, for $65 million in December.

The Rotorua Bond + Bond in Central Mall is one of 12 stores that will close nationwide. Eight others will be turned into Noel Leeming outlets while four will be combined into expanded Noel Leeming stores.

John Journee, chief executive of the Noel Leeming Group, said Bond + Bond staff across the country were given the news yesterday.

He said all eight non-management staff in Rotorua had been offered comparable jobs at Noel Leeming, which is right next door in the Central Mall.

The two managers were also in discussions with regard to new roles, he said.

Thought had been given to merging the two Rotorua stores, however the existing Noel Leeming was already big enough.

Mr Journee said while change was always unsettling, most staff were excited by the increased career opportunities that came with being part of a bigger brand.

Mr Journee said all stores would close by April 2, Easter Monday (April 1) the last trading day, so an Easter sale was likely.

He said Bond + Bond accounts and warranties would be transferred to Noel Leeming, which would also honour Bond + Bond gift cards.

Pukeroa Oruawhata Trust client manager Peter Faulkner, of Hulton Patchell, said his company was still working through details in relation to the future of the 900sq m premises.

However, he said he was optimistic demand for stores that size meant it would be quickly snapped up by another tenant.

Chief executive of The Warehouse, Mark Powell said the decision not to continue with the Bond + Bond stores had not been made lightly, the brand having been part of New Zealand's retail landscape since 1875.