Game Could Be Saved.
Posted April 2, 2012 by Jallen (61)
Last week the British retailer Game, who specialises in videogames, announced it was going to administration. This lead to the announcement of 277 stores across the country being immediately closed, and over two thousand employees being made redundant. The remaining 333 stores would remain open as the searched for a buyer.
That new buyer seems to be Opcapita who has announced that it’ll be buying a large part of the business, which includes all open stores. This buy out will save the jobs of 3200 employees still working at Game. Opcapita also bought UK retailer Comet in 2011. Henry Jackson, Managing Partner of OpCapita said:
"We are pleased to have reached agreement with the Administrator. We strongly believe there is a place on the high street for a video gaming specialist and GAME is the leading brand in a £2.8 billion market in the UK. We have assembled a strong team of experienced industry operators to implement the programme of operational change that is needed. There is a huge amount to do but we look forward to the challenge of restoring GAME’s fortunes in partnership with its employees and suppliers."
Mike Jervis, Administrator to The GAME Group plc and PwC partner added:
"We are delighted to be able to secure this business sale and provide some much needed stability for customers, suppliers and employees alike in these uncertain times. The support of these stakeholders has been crucial over the last week and I would like to thank them for their support throughout this difficult period.
"This means that the GAME brand will not be another one of the retail names disappearing from the high street in the current difficult climate."
So it appears that Game will be around on the High Street for a bit longer however with constant pressure from cheaper online sales and fully downloadable games one has to ask; but for how much longer?
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