Sainsbury's agrees to sell Argos for £120m
Mitchell Labiak , Business reporter and Emma Simpson , Business correspondent Sainsbury's has agreed to sell Argos for £120m after a long process of trying to offload it as the supermarket chain aims to focus on its main food business. Sainsbury's 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. The buyer, Swift Partners, is a company that has been created to buy the brand and includes former Co-operative Group boss Richard Pennycook. 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. 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. The Argos catalogue, once descri...