|Argos Closes Putney Branch|
| Lease expiring just as Sainsbury's announce plans to shut 70 stores
Argos will not be renewing the lease for the Putney outlet and the branch is set to close. The lease is expiring just as Sainsbury's announced plans to close up to 70 Argos stores as part of reorganisation to reduce costs by £500m.
Sainsbury's, which owns Argos, is shifting to an operating model which will see most Argos stores at the same site as their supermarkets rather than operating separately. Eighty new Argos outlets will be opened inside Sainsbury’s supermarkets.
The closures are part of a reorganisation of the Sainsbury’s store portfolio that will see up to 15 supermarkets and 40 convenience stores shut. The group is also likely to close up to half of its 12 data centres, as it merges technology operations for Sainsbury’s and Argos.
October 3, 2019