Sainsbury’s talks to sell Argos to Chinese retailer JD.com collapse | J Sainsbury

Sinsbury’s hopes to evacuate the retail business to one of China’s largest retailers, collapsed when it ended on Sunday.

The Supermarket giant confirmed that he was not in discussions with JD.com to sell Argos, a general arm that he bought more than 1 billion £ ten years ago.

On Saturday, JD.com had negotiated with JD.com for a sale that he said he would accelerate the transformation of Argos, who was increasingly online and larger Sinsbury branches.

However, 24 hours later, Sinsbury’s said the agreement was closed. “JD.com said that now only Sinsbury’s shareholders, colleagues and expansive stakeholders will be ready to make a number of financial terms and commitments.

JD.com, which has nothing to do with JD Sports, is one of China’s largest retailers and also offers supply -based technology and services in other sectors. Last year, JD.com walked away from an agreement to buy the UK White newspapers and electronic retailer Curry’s.

Argos is the second largest general product retailer in England with the third most visited retail website in the UK, according to Sinsbury’s. It protects about 200 independent stores with more than 1,100 collection points in the stores of Sinsbury, where customers examine the famous catalog of customers.

Before collapsing, Sinsbury’s, accelerating the return of Argos, spoke about the potential agreement: “JD.com would bring first -class retail, technology and logistics expertise and invest to increase the growth of Argos and further transform customer experience.”

A sales will command a much lower figure for Home Retail, who was the owner of Argos at the time, in 2016 than the payment of £ 1.1 billion Sinsbury. Sinsbury’s latest account chain valued the chain of 344 million pounds, and the group said that the growth in the main supermarket business was weighed with the falling Argos profit.

Some retail analysts questioned the transfer of the supermarket to their stores. Hundreds of independent Argos stores were closed when the business was restructured and moved to more online shopping.

In 2023, Sinsbury closed two Argos distribution centers in Milton Keynes and the headquarters of the enterprise in 2023.