A decision is expected today on a proposed strike at Argos's distribution centre in Somerset.
The Bridgwater warehouse is the nerve centre for product supplied to around 70 stores across Wales and the Southwest. Action could severely hit stock levels in the stores in the busy Christmas period.
ACAS has stepped in to mediate between the retailer and the T&G union, which had threatened action from last night.
A T&G spokesman said ahead of negotiations: 'If both sides are equally far apart following the talks, industrial action will go ahead.'
In a statement, Argos - which has 507 stores - said it hopes the talks will lead to a resolution of the dispute 'as soon as possible'.
The threat of action is understood to be the result of final warnings given to nine members of staff who complained about being transferred to different jobs without proper consultation.