Suffolk could lose Sainsbury’s and Argos stores as 125 closures revealed
PUBLISHED: 13:06 25 September 2019 | UPDATED: 10:08 26 September 2019
Sainsbury’s has announced it will close up to 125 supermarkets and Argos stores in a bid to cut costs.
Stores across Suffolk could be among those which get the chop as part of the huge shake-up.
However, the group said it is planning to open more stores than it closes.
It said it will shut up to 70 stand alone Argos shops and open around 80 within its supermarkets.
You may also want to watch:
MORE: Only Fools and Horses sheepskin brand is back - four years after factory closed
While 15 large supermarkets and another 40 convenience stores are also earmarked for closure the firm is planning to open around 10 big stores and 110 convenience outlets.
The company declined to say how many jobs would be impacted by the changes.
Earlier this year it was announced Argos is set to close down its site in Carr Street, Ipswich.
But it is unclear whether this cut was part of the firm's five year plan.
The plan, led by chief executive Mike Coupe, is set to cut costs by around £500 million over the next five years and comes after the failure of its ill-fated £7.3 billion takeover tilt for rival Asda.
If you value what this story gives you, please consider supporting the East Anglian Daily Times. Click the link in the orange box above for details.