Sainsbury's Retreats from Its Retail Empire Sainsbury's has agreed to sell its struggling Argos business for £120 million, significantly lower than the £1. 3 billion it paid in 2016.
This deal marks a significant retreat from the company's earlier ambitions to build a retail empire and raises questions about the long term viability of such efforts.
The buyer, Swift Partners, is a newly formed entity with ties to the Co operative Group.