Further to the news that Homebase is becoming Bunnings following their expected sale to Australian retail group Wesfarmer it has now been announced that Sainsbury’s are proposing to stump up £1.3bn for Argos.
Only today Sainsbury’s Financial Director was seen in the Horsham branch of Argos completing one of those blue slips with the six digit code and entering the £1.3bn figure. He is currently third in the queue with a ten minute wait predicted. He might get a £10 voucher for spending more than £100 if the offer is still on. All three of the previous three sentences are entirely fictitious of course.
There is the possibility that the town centre branch will close at the end of the lease as Sainsbury’s seek to recoup some of the investment by moving Argos into existing Sainsbury’s outlets.
The Horsham Homebase, currently part of the same group as Argos, currently has an Argos outlet within it so it will be an interesting disentanglement – or integration – some time in the future.