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JB Hi-Fi - Source: ONE News
The remaining stores of electrical and whiteware retailer Hill and Stewart are being closed by its Australian owner JB Hi-Fi.
JB Hi-Fi CEO Richard Uechtritz told online industry news source current.com.au that the leases on the Hill and Stewart stores in New Zealand had expired and the company had decided not to renew them.
Some stores have already been closed down. Its four remaining stores all located in Auckland at the Albany Mega Centre, Botany Town Centre, Manukau Supa Centre and St Lukes Mega Centre, will follow.
Uechtritz told current.com.au that the company wants to focus on its JB Hi-Fi branded stores.
Hill & Stewart was bought by JB Hi-Fi in March 2007 for $16.2 million and was part of its strategy to expand JB Hi-Fi stores in New Zealand.
