Sainsbury’s to sell Argos in £120m private equity-backed deal

Sainsbury’s has said it will sell long-struggling catalogue retailer Argos to a private equity-backed consortium in a £120m deal.  The supermarket giant said the sale will enable it to focus on its food business and deliver higher cash generations and healthier margins.  Sainsbury’s bought Argos a decade ago but the retailer has long dragged on…