J Sainsbury PLC was in the news today after announcing the closure of 34 Argos stores in the Republic of Ireland and as LloydsPharmacy said it was closing the shutters on its 237 pharmacy sites in the grocer’s shops.
Argos said it intends to close the stores at the end of June this year with the loss of 580 jobs following a thorough review of its business and operations in the country.
"Argos concluded the investment required to develop and modernise the Irish part of its business was not viable and that the money would be better invested in other parts of its business," the company said in a statement.
Meanwhile, the move by LloydsPharmacy comes only seven years after the UK’s second biggest pharmacy chain bought the outlets in a £125mln deal.
LloydsPharmacy said the decision followed a strategic review undertaken by the pharmacy chain “'in response to changing market conditions'.
LloydsPharmacy added that it is 'exploring options' for each branch individually and will confirm exact closure plans on a 'branch-by-branch' basis but expects to complete the process over the course of 2023.
Chief executive Kevin Birch said: "This decision has not been an easy one and we understand that our patients and customers may have questions about how the change will affect them."
Sainsbury's said it will work with LloydsPharmacy, the UK’s second-largest pharmacy chain, to ensure that customers can access alternative pharmacy services, a spokesperson for the retailer said.