Supermarket giant Sainsbury’s will axe its Argos catalogue retail unit in eurozone member Ireland with the loss of about 580 jobs, it announced Thursday.
The UK retailer, which bought Argos in 2016, said the division’s 34 Irish stores will close by the end of June.
Argos “arrived at the decision to leave Ireland following a long period of careful consideration and a thorough review of its business and operations in the country”, it added in a statement.
The review concluded that the investment necessary to develop and modernise Irish operations was “not viable” and the money was better spent elsewhere.
UK operations of Argos are performing well and remain unaffected, with no change in England, Northern Ireland, Scotland and Wales.
Argos has more than 1,000 retail sites across Britain, including those situated inside Sainsbury’s supermarket branches.
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