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Sainsbury’s has agreed to sell Argos for \u00a3120m<\/b> <\/b>after a long process of trying to offload it as the supermarket chain aims to focus on its main food business.<\/b><\/p>\n
Sainsbury’s <\/b>said it would be “business as usual” for Argos customers, staff, and suppliers. Shoppers will see no change as Argos will still operate in Sainsbury’s shops, sell Habitat products, and offer Nectar points.<\/p>\n
The buyer, Swift Partners, is a company that has been created to buy the brand and includes former Co-operative Group boss Richard Pennycook.<\/p>\n
There are 667 Argos shops across the UK, with 201 operating as standalone stores and 466 operating within Sainsbury’s. It also has more than 450 collection points.<\/p>\n
Founded in 1973, Argos opened shops where customers browsed its catalogues and placed their orders, with products being delivered to tills from warehouses connected to the stores.<\/p>\n
The Argos catalogue, once described by comedian Bill Bailey as the “laminated book of dreams”, used to be a physical book.<\/p>\n
Argos no longer prints this hefty tome, with its full range now available online instead. In store, customers can browse the product collection on tablet computers.<\/p>\n
Sainsbury’s has been trying to sell Argos – which has been seen as an underperforming brand – for some time.<\/p>\n