Job loss fears as Sainsbury's announce Argos closures

SAINSBURY'S plans to cut 3,500 jobs and close 420 Argos stores across the UK.

Both Dungannon and Cookstown have standalone Argos stores whose futures are uncertain.

A spokesperson for the companies said: "We have shared plans to open 350 more Argos stores in Sainsbury’s and Argos collection points in supermarkets and convenience stores by March 2024.

"As a result of this, we will no longer need as many Argos standalone stores and so we have said that we will close around 420 branches, bringing the UK Argos standalone store estate to around 100 by March 2024.

"120 Argos standalone stores have not reopened since we closed them back in March and these will remain closed permanently as a result of this update. While these stores have remained closed, many Argos colleagues have redeployed to help in other Argos stores and Sainsbury’s supermarkets. They will continue to do this during the consultation process and we will do everything possible to find them alternative roles within the business by the time this concludes in the New Year.

"We will close around a further 300 Argos standalone stores by March 2024 and are in the process of reviewing our estate."

Simon Roberts, Chief Executive of J Sainsbury plc said:

"Argos sales have been strong over the past six months and we have gained almost two million new customers as people have re-connected with Argos. Over the next three years we will make Argos a simpler, more efficient and more profitable business while still offering customers great convenience and value and improving availability. We are talking to colleagues about where the changes we are announcing in Argos standalone stores impact their roles. We will work really hard to find alternative roles for as many of these colleagues as possible and expect to be able to offer alternative roles for the majority of impacted colleagues.

“Given the unprecedented circumstances of this year and the challenges facing our colleagues, including the changes we are announcing, I have informed the Board that if a bonus is payable, I will waive any bonus entitlement for this financial year."

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