UK-based retailer of general merchandise, Argos, is to pull out of China businesses, just after four months of trading, reports RetailWeek.

Argos entered China through partnership with Chinese retailer Haier, with Haier holding 51 per cent and the remaining 49 per cent by Argos. In addition to its e-commerce business in China, the retailer has three physical stores according to Tech In Asia.

“Following a strategic review of the investment required to further develop the Chinese business, alongside the requirements to deliver the Argos Transformation programme, we are, with our joint venture partner, proposing to close the Chinese business,” said a spokesperson from Argos.

The spokesperson added that the withdrawal was a difficult decision for both parties, given how short the China operation has been trading.

In 2009, Argos also exited India due to underperformance.