Thu, Jan 17, 2013 | 19:59 GMT
GAME eyeing 40-45 HMV stores for acquisition
GAME has spoken with HMV administrators Deloitte over a possible acquisition of some of the stores.
GAME’s boss Martyn Gibbs confirmed the information, but wouldn’t provide information on a monetary figure offered. GAME is looking at 40-45 stores in cities where it is not currently located.
“We will constantly review our property portfolio based on what is available,” Gibbs said to The Financial Times. “I would not rule out any stores that are becoming available, be that through an administration or normal property deals.”
Gibbs said the firm, which itself was in a bit of a pickle last year, were financially “ahead of expectations” and will hit its expected £20 million in annual earnings target by July.
GAME currently has 300 UK stores in operation.
Thanks, MCV.
4 comments
#1
AHA-Lambda
17/01/13, 7:56 pm
GAME went into administration because they had TOO MANY STORES!! WTF!!??
GAME really have learned NOTHING from their administration period..
#2
Stephany Nunneley
17/01/13, 7:59 pm
Well, just because they are looking at 40-45 different stores, doesn’t mean they will buy the whole lot. Maybe 2 or 3? Maybe all? No idea, really.
#3
Nfanboy
17/01/13, 10:31 pm
I hope they’ll be back in Ireland.
Gamestop needs some competition over here…
#4
GrimRita
17/01/13, 11:55 pm
@2 It doesnt really matter. Dinosaur retailers like HMV/Blockbuster/GAME simply can’t survive in the UK with their current set up. Now, they are all simply far too late to the digital age.
Rents/leases are so expensive here and these are the key reasons why so many retailers are going to the wall.
How on earth can GAME look to adding more stores(even just 1 or 2) and this will just prove they havent learned their lessons, unless they offer something radical to the consumer.