Will King's Lynn or Fakenham be hit by move to cut Argos stores?

A number of Argos stores could be closed as part of a nationwide reshuffle from parent company Sainsbury's.

It has been revealed that between 60 and 70 of the catalogue outlets will be shut within the next five years. They will then be incorporated into existing Sainsbury's supermarkets.

But no locations have been revealed as yet for which Argos stores will close as separate entities.

At present, Sainsbury's has two stores in Lynn, one in the town centre and the other at the Hardwick Retail Park. There is an Argos in New Conduit Street, Lynn, and one at the Hardwick.

There is also a Sainsbury's in Hunstanton and an Argos in Fakenham.

In their trading update, the UK's second largest supermarket chain announced it will be opening 110 new convenience stores across the country, while also closing 40.

About 15 new supermarkets will be opened and 10 existing stores will be closed.

Sainsbury's has owned Argos since September 2016 when Home Retail Group agreed to be taken over for £1.4billion.

Chief executive officer Mike Coupe said: "Argos continued to grow market share in key categories but sales were impacted by reduced promotional activity and the timing of new product releases in gaming and toys.

"Clothing sales were boosted by clearance activity and strong online growth and Tu continued to grow market share."