A Michael Hill store in Auckland's North Shore is closing its doors after several burglaries and ram-raids.
The Takapuna shop has been hit three times this year.
The decision comes less than a week after the jewellery store announced new security systems across its branches.
In a statement, chief executive Daniel Bracken said the Takapuna store was the most targeted of their branches in the country.
It would remain closed while they reviewed its broader security options, Bracken said.
The closure was for the immediate safety of its customers and employees, he said.
"This is a national problem impacting not just retail, impacting lots of businesses big and small" - Michael Hill chief executive Daniel Bracken
Bracken told Checkpoint the decision was made with a heavy heart, but the company could not see any alternative.
"Our number one priority is the ongoing safety and security of our team and of our customers," he said.
"It was not a decision that was taken lightly and it's certainly one that we will continue to review."
He said the incidents affected staff, who did not want to work in that type of environment, but that the team had remained incredibly resilient throughout.
The chain was not being hit harder by such criminal attacks than any other similar store, and Michael Hill was responding by introducing more security measures, he added.
"We've got the largest store network - we've got 48 stores in New Zealand. So we're always going to look like we're getting hit more often because we've got more targets to be hit.
"A lot of other jewelers are getting hit significantly. A lot of other retailers, sports goods retailers in particular, are getting hit, it's not just Michael Hill.
"This is a national problem impacting not just retail, impacting lots of businesses big and small. And it's a problem that's a national problem that needs to be resolved. We're doing our bit we're certainly investing, as you said in increased measures capability to protect ourselves."