Is Argos going bust?
The 420 standalone Argos stores will close by March 2024, although Sainsbury’s said it would open 150 Argos outlets in its supermarkets.
Boss Simon Roberts said Sainsbury’s was responding to changing consumer habits and the growth of online shopping..
Are Sainsbury’s and Argos the same company?
In April 2016, Argos’ parent Home Retail Group agreed to a £1.4 billion takeover by the UK supermarket chain Sainsbury’s. The acquisition was completed on 2 September 2016 and the business became part of a division named Sainsbury’s Argos, led by its own chief executive.
Has Sainsbury’s taken over Argos?
Sainsbury’s has owned Argos since September 2016 when Home Retail Group agreed to be taken over by the supermarket for £1.4billion.
What companies does Sainsburys own?
The holding company, J Sainsbury plc, is split into three divisions: Sainsbury’s Supermarkets Ltd (including convenience shops), Sainsbury’s Bank and Sainsbury’s Argos. The group’s head office is in Sainsbury’s Support Centre in Holborn Circus, City of London.
Why did Sainsbury’s buy Argos?
Sainsbury’s bought Argos in 2016 and at the time said the acquisition would make customers’ lives easier. This week it said that the move was part of its strategy to roll out the benefits of its Argos purchase to customers. … The company has said it will open 250 Argos stores in Sainsbury’s supermarkets by March 2019.
Is Sainsburys going bust?
The supermarket chain has just announced that the Sainsbury’s stores will be shut down over five years, and the Argos stores by 2024.