No decision yet on store future

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A decision on whether catalogue retailer Argos will stay open in Spalding after a shake-up of UK stores has yet to be made, the company has said this week.

Argos bosses announced plans on Wednesday to either shut or relocate at least 75 of its 739 stores in the UK and Ireland as it focuses on building up its product range and online sales.

The store at Holland Market, Spalding, is one of eight in Lincolnshire and an Argos spokeswoman said she was unable to confirm which ones may close because of current leasing arrangements.

She said: “We are committed to maintaining both a national and local spread of Argos stores, but we can’t at this stage give information about individual stores that may be closing due to leasing details.”

A report by Home Retail Group, owners of Argos, stated that each store’s future would be decided on a number of factors, including profitability and “attractiveness of location.”

The report said: “Argos has reviewed its store estate on the basis of several factors, such as profitability, attractiveness of location, complexity of operations and overall fit for the new strategy.

“As a result, it is likely that Argos will close or relocate at least 75 stores as their leases come to an end over the next five years.”