GAME Iberian arm saved by OpCapita-backed venture

By Johnny Cullen, Monday, 16 April 2012 11:00 GMT

GAME’s stores in the Iberian region – that’s Spain and Portugal – have been saved by an OpCapita-backed investment company known as Cherrilux Investments.

MCV reports Cherrilux was set up by OpCapita to help buy the chain, just as Baker Acquisitions was when it bought the UK arm of the company earlier this month after it entered administration.

The buy will save 290 stores and 1,000 jobs in Spain and Portugal.

The deal was completed last Wednesday, with Cherrilux adding it had “no plans to close stores at Game Iberia and will continue to run the business as a going concern while evaluating the possible sale of the business.”

It was previously reported that US retailer GameStop would be interested in the Portugese and Spanish stores.

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