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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.
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]
In September 2016, the supermarket chain Sainsbury's completed its acquisition of Home Retail Group, [18] bringing Argos, along with the Alba and Bush brands, under its ownership. The Alba brand was dropped by Sainsbury's in 2022 and replaced by the Bush brand. [1] [3] However, Harvard International still owns Alba Australia. [19]
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The axe is likely to fall on office jobs as Sainsbury's and Argos teams are integrated following the takeover. Skip to main content. 24/7 Help. For premium support please call: 800-290 ...
Tesco is the largest supermarket chain in the United Kingdom.. As of November 2024, there are 17 supermarket chains currently operating in the United Kingdom. The food retail market has been dominated by the 'big four' supermarkets – Tesco, Sainsbury's, Asda and Morrisons – who made up over three quarters of sector market share in 2010.
After a four-month pursuit, in April 2016 Home Retail Group agreed to be taken over by Sainsbury's for £1.4 billion. Sainsbury's completed the acquisition in September 2016. [104] [105] The deal included catalogue chain Argos and furnishing retailer Habitat. As a result, the new Sainsbury's group was organised into four divisions: the core ...