Argos To Close 75 Stores In The UK

UK Retailer Argos is to close 75 stores in the UK as it plans to focus on developing its internet arm, says Sky News.

This follows a steep 60% reduction in profits recorded by Home Retail Group (who own Argos) earlier this year.  In a statement about the reasons behind the cull of Argos stores, a Home Retail Group spokesman explained “it is likely that Argos will close or relocate at least 75 stores as their leases come to an end over the next five years.”

The announcement followed an in depth review of Argos stores taking into account many factors such as profitability and location.