As Sainsbury’s sells Argos can the general merchandise business finally thrive?
The Argos experiment is finally over at Sainsbury’s – and at a massive write-down from what the supermarket giant spent on it. Retail Week analyses what it means for Argos moving forward.
- Sainsbury’s has today sold Argos to new company Swift Partners for £120m
- Deal includes all points of sale, distribution centre in Daventry and sourcing offices overseas
- Swift Partners headed up by Richard Pennycook, Trevor Strain and Matthew Truman
- Deal represents a “win-win,” Sainsbury’s CEO Roberts says
Already have an account? Sign in here