Sainsbury’s lack of stores in Ireland a key factor in Argos closure
The supermarket chain, which acquired the retailer in 2016, has pursued a strategy of merging the two businesses in the UK
The fact that Sainsbury’s has no supermarkets in Ireland has been cited as a key factor in the closure of Argos in the Republic of Ireland, as announced earlier today.
In 2016, the company was acquired by Sainsbury’s, the UK supermarket chain. While Argos’s Irish arm was profitable pre-pandemic, sales dropped significantly during Covid, and it recorded an operating loss of €12.5 million in the year to March 2022.
Speaking to the Business Post, Michael ...