Sainsbury's has ended negotiations with Chinese e-commerce group JD.com over the potential sale of Argos, saying the revised terms put forward were no longer acceptable. The collapse of talks closes the door, for now, on one of the year's most closely watched retail deals and leaves Sainsbury's to continue reshaping Argos within its own business.
The decision comes at a time when Argos's value has fallen dramatically since its £1.1–£1.4 billion acquisition in 2016, reflecting both company-specific challenges and wider pressures in the UK's non-food retail sector. Sainsbury's board said it would only consider offers that safeguard the interests of shareholders, staff and stakeholders, while stressing that Argos remains integral to its long-term plans.
