July 2017, TW Group announced that it intended to sell the Financial Services division, acquired in 2014, to SBS Bank for a reported $18 million by September. In 2018, TWG purchased the Appliance Shed brand to create the Noel Leeming Clearance Centre brand. In 2019, TWG launched TheMarket, a new online marketplace selling local and international brands. In June 2020 the Warehouse Group announced that it would be laying off 1,080 jobs as a result of the economic effects of the COVID-19 pandemic in New Zealand. The company also announced that it would be closing down six stores including The Warehouse stores in Whangaparaoa, Johnsonville, Dunedin, the Warehouse Stationery in Te Awamutu, and the Noel Leeming stores in Henderson and Tokoroa. On 20 July 2020 the Warehouse COO Pejman Okhovat announced that it could cut between 500 to 750 jobs as part of a proposed restructuring of the company. First Union general secretary Dennis Maga has criticised the company for using COVID-19 as an excuse to lay off hundreds of workers and to reduce the incomes of thousands of employees. On 21 December the Warehouse Group announced that it was in a "confident enough position" to repay its NZ$67.8 million COVID-19 wage subsidy to the Government. From early 2021 all Warehouse stores across the country stopped selling physical media including DVDs, Blu-Rays, CDs, and Vinyl Records. In May 2021, The Warehouse Group announced that fireworks would no longer be sold at The Warehouse stores. The Warehouse also started closing jewellery counters in July 2021. Business The Warehouse operates discount retail department stores selling a broad range of non-grocery and grocery products. As of January 2015, The Warehouse employed over 12,000 people in New Zealand. The Warehouse's corporate headquarters are located in North Shore, New Zealand. Apart from its 240+ retail locations, it operates 2 distribution centres located in Wiri and in Rolleston, New Zealand as well as 13 online stores. In addition to its own operations, it owns various brand names that are located within the stores. It has gardening facilities located in Auckland, Hamilton and in Christchurch. Along with its gardening brand Just, it also operates nearly 30 "in-company" brands. The Warehouse is publicly traded on the New Zealand Stock Exchange with the security code WHS (TWH was used previously). Criticism In May 2007 to mark the 25th Birthday of The Warehouse the company released 13,000 balloons from Dairy