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Sainsbury's submitted a revised offer of £1.3 billion on 2 February 2016, with a deadline of 23 February to make a firm bid. [14] Steinhoff International submitted a rival bid of £1.4 billion on 19 February. [15] Steinhoff abandoned its bid on 18 March 2016, while Sainsbury's submitted a formal bid of £1.4 billion. [16]
On 5 November 2020, Sainsbury's announced that it would close 420 Argos standalone outlets by March 2024, leaving about 100; together with other measures, 3,500 Sainsbury's jobs were to be cut and £600 million saved. During 2020, 120 standalone Argos stores in the UK permanently closed.
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Habitat (a trading name of Argos Limited) is a brand of household furnishings in the United Kingdom and the main homewares brand within the Sainsbury's group.. Founded in 1964 by Sir Terence Conran, it merged with a number of other retailers in the 1980s to create Storehouse plc, before the latter sold Habitat to the Ikano Group, owned by the Kamprad family, in 1992.
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The holding company, J Sainsbury plc, is split into three divisions: Sainsbury's Supermarkets Ltd (including convenience shops), Sainsbury's Bank, and Argos. As of 2021, the largest overall shareholder is the sovereign wealth fund of Qatar , the Qatar Investment Authority , which holds around 15% of the company. [ 6 ]
Bush is a British consumer electronics brand owned by J Sainsbury plc (Sainsbury's), the parent company of the retailer Argos. [1] The former Bush company is one of the most famous manufacturers of early British radios. The company is now defunct, but the Bush brand name survives as a private label brand for budget electronics.
Home Retail Group, the parent company of retailers Homebase and Argos, purchased the brand for £5 million in January 2009. [5] The Chad Valley brand is now available exclusively at Argos. In March 2016, Sainsbury's bought Home Retail Group for approximately £1.4 billion and Chad Valley became a brand of Sainsbury's. [6]