Major retailer Argos is set to close some of its stores within weeks with 50 shops to shut in 2023 after a deal with Sainsbury's. 

The catalogue brand has reportedly confirmed plans to close multiple stores across the UK as it invests in smaller branches within the supermarket giant instead.

The next closure will be its branch in Coatbridge, Lanarkshire on March 11 and is likely to be followed by the Cardiff Bay store in July but a date is yet to be confirmed.

Its branch in Newport is expected to follow later in the summer, the Mirror reports.

News Shopper: Argos to close 50 stores in 2023 ( PA)Argos to close 50 stores in 2023 ( PA) (Image: PA)

Argos to close 50 stores in 2023 with the next shutting within weeks

The news follows the closure of two standalone Argos branches earlier in the year with the Coventry City Arcade shop shutting up on January 7.

Then, a week later, the Nottingham City Centre store also closed its doors for good.

The recent closures are part of its partner company's new strategy which involves closing 420 standalone stores over three-and-a-half years, 50 of which in 2023.

READ MORE: Argos shoppers warned of 'free' Ninja Air Fryer scam 

READ MORE: Every major supermarket not rationing fruit and veg as four introduce limits 

Next year, the retailer plans to have 160 standalone stores and around 430-460 counters within Sainsbury's supermarkets.

The news comes after Argos announced the closure of 34 of its stores in the Republic of Ireland.

The company employs around 580 people in 34 stores in the Republic of Ireland. 

The hours worked by staff in Ireland equate to 330 full-time roles.

Argos said it 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.

The company said it 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.