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OpCapita to buy GAME's UK business

Investment firm could save up to 333 stores and over 3,000 jobs

Investment firm OpCapita is buying a large portion of specialist retailer The Game Group, keeping open 333 stores and saving 3,100 jobs at the company.

According to a report by the BBC the move has been approved by six banks which are owed a total £85 million, led by Royal Bank of Scotland.

The Game Group officially went into administration last week, closing 277 stores and making 2,107 staff redundant.

According to a separate report by The Telegraph, the deal is only in place for the UK business, with a management team already in place to take control. OpCapita is expected to have bought the company for as little as £1.

Full details of the deal are expected to be announced shortly.

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Latest comments (3)

Ken Addeh9 years ago little as 1.

Edited 1 times. Last edit by Ken Addeh on 1st April 2012 10:33am

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Mike Wilson Tools Programmer, Rockstar North9 years ago
They also take on the debt Ken.
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Dominic Jakube Student 9 years ago
85 Mill by 333 stores means 255 grand per shop plus whatever other assets GAME had.Seams a bit high to me as the brand is permantly damaged.Who would buy a gift-card or plunk down a cash deposit on a game with them now?
They still have the supply issue to work out as well.The big publishers will have them over the barrel now and could still withold stock if GAME keep pushing pre-owned.
Unfortunatly without pre-owned GAME's bussiness is not viable as profit on new stock is in the order of 5-10% to stay competitive.They might have to chose between the profitable income from used versus getting new stock to sell if the publishers play hard ball.
Either way GAMEs days of having thier cake and eating it too may be over.
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