Could Argos be set to close stores?
The owner of one of the most recognisable brands has cast doubt over the future of Argos stores as Argos saw poor results in the last business year.
The chain, which currently has 748 stores nationwide saw a 60% plunge in operating profits, with a 9% drop in sales last year. It is now believed that 230 stores that have their lease due for renewal in the next five years will be seriously looked at for renewal. It is also believed that ten of the worst performing stores will be closed in the following 12 months.
However, it is not all doom and gloom. The owner says that Argos is still searching for more desirable sites where they can open new stores.
Argos has thousands of employee across the country and now the question is what will happen to those people who might lose their jobs in the close future.