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GAME sale confirmed, no more stores will close

Saturday, 31st March 2012 21:35 GMT By Johnny Cullen

UK retailer GAME has been bought, it’s been confirmed, with Baker Acquisitions, a company advised by Comet owner OpCapita, stepping in to save 333 stores and 3,100 jobs.

GAME has been saved, it’s been confirmed, with Baker Acquisitions – a company backed by OpCapita, the new owner.

No more stores will be closed.

“We are pleased to have reached agreement with the Administrator,” OpCapita managing partner Henry Jackson said. “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.”

It was earlier reported by The Telegraph and the BBC that the deal would be announced this morning.

BBC business editor Robert Peston said a deal had been approved by “half a dozen banks” who are owed £85 million in debt by GAME Group, including the Royal Bank of Scotland. It’s thought its bought its assets out for £1 when not including the debt.

OpCapita, who was reported to have placed a second bid earlier this week following a first tabled offer was rejected, bought UK electronics retailer Comet last year for £2.

It was reported earlier in the week an RBS-backed consortium was in the running to take over the chain.

GAME entered administration last Monday at the loss of 277 GAME and GameStation stores and 2,104 jobs – including the entire shutdown of its operations in the Republic of Ireland.

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11 Comments

  1. LOLshock94

    awwwrr ffs

    #1 3 years ago
  2. dreamcastnews

    @1 surely this is a good thing that GAME have been bought?

    #2 3 years ago
  3. silkvg247

    After this:

    http://www.vg247.com/forum/topic.php?id=5611&page=1#post-31791

    .. I’ll never buy a thing from them again. I hope they rot.

    #3 3 years ago
  4. Gheritt White

    Any chance of some investigative journalism into Comet’s performance after the OpCapita buy-out as a means of assessing whether this is good or bad for the UK high street and packaged goods market?

    #4 3 years ago
  5. LOLshock94

    game is a dirty rotton tramp that needs to go away

    #5 3 years ago
  6. Patrick Garratt

    Updated. It’s happened.

    #6 3 years ago
  7. dreamcastnews

    @5 In your opinion… What they do; sleep with your Mum or something?

    #7 3 years ago
  8. Froseidon

    @7 – Thats why its dirty ;)

    #8 3 years ago
  9. StolenGlory

    @4 Great call – i’m surprised a story hasn’t already been commissioned regarding this.

    @5 You never have anything remotely decent or insightful to say do you?

    Normally, I wouldn’t take the time to call you out on it, but this is a topic I feel rather passionately about.

    So, from the internet, please, shut the fuck up.

    #9 3 years ago
  10. dreamcastnews

    @9 second that.

    #10 3 years ago
  11. Patrick Garratt

    We’ll take a look tomorrow.

    #11 3 years ago

Comments are now closed on this article.