Sainsbury's sells Argos to Swift Partners for £120M, a decade after acquiring it for £1.4B
British supermarket chain Sainsbury’s has sold its general merchandise retailer Argos to newly formed company Swift Partners in a deal valued at around £120 million ($161 million). This marks a significant loss compared to the £1.4 billion (around $1.8 billion) paid for Home Retail Group, which owned Argos, back in 2016. Argos has struggled under Sainsbury’s ownership due to competition from online retailers and declining foot traffic, leading to numerous store closures. The company reported a £223.2 million pre-tax loss in its 2025 financial year after previously posting a profit of £37.3 million. The sale is expected to result in an impairment charge for Sainsbury’s of around £350 million and will close by February next year, with Argos continuing operations as usual under new ownership.