Sainsbury's to shut a load of Argos shops
Sainsbury's have said that they could be shutting down a load of Argos stores, and then relocate them as concessions inside their supermarkets, as they put forward their case for the takeover of Home Retail Group.
The supermarkets is still weighing their options up, with Sainsbury’s honcho Mike Coupe staying quiet about the whole thing for the time being. However, the chain have done a presentation where they've said that they could be closing a whopping 200 stores.
Sainsbury's already have 10 Argos concessions within their supermarkets, which they're doing as part of a trial.
Coupe said: "This is not a deal we need to do at any price."
With Sainsbury's having a better-than-expected Christmas, they might be feeling cocky enough to take over the group in 2016. They were one of the only shops in the Big Four who managed to gain market share over Christmas (according to figures from Kantar Worldpanel). However, Sainsbury's are going to have to up their price if they want to take on Home Retail.
They've also got a deadline of February 2nd, or under the rules of the City Takeover Panel, they have to walk away.
TOPICS: High Street News