Google+

GAME not dead - jobs and stores saved as high street retailer finds buyer

The remaining 333 stores of almost dead high street retailer GAME have been bought, saving nearly 3,200 jobs in the process. The company was sold over the weekend to OpCapita, an investment firm which specialises in purchasing troubled retailers such as GAME.

It's not clear exactly how much OpCapita paid, although an unconfirmed figure of £1 has been quoted by a number of reports. As mad as it sounds, this could easily be true as OpCapita is essentially buying GAME's debt, which is worth upwards of £85 million. And it doesn't make much business sense to spend a lot of money on debt.

After entering administration last week, GAME immediately closed 277 of its outlets and the future looked bleak until OpCapita stepped in. It's believed the company has already spoken with suppliers to ensure new titles will be delivered to stores - it was the news big games from EA, Capcom and Nintendo wouldn't be sold in GAME that really signalled the retailer was in serious crisis.

Above: Sadly, it seems the stores that closed recently will remain closed

So, not completely GAME over after all. But this is surely the company's last chance and while making sure its shelves are stocked with new releases is undoubtedly a good place to start, OpCapita has a mammoth task transforming GAME into a money-making business that can survive against the ever growing threat of online retailers and supermarket giants. Good luck to them.

7 comments

  • cj12297 - April 4, 2012 7:54 a.m.

    Shame that they're gone in Ireland already.
  • baldy666 - April 2, 2012 12:24 p.m.

    Whilst I feel sorry for the staff, I have no sympathy for the company and in a way want to see them go under. Don't charge me £40-45 for new games and expect to stay in business. I WANT to be able to go into a shop and physically purchase a game but why would I when I can get it online for up to £10 cheaper and receive it possibly two days before release.
  • kitten - April 2, 2012 6:36 a.m.

    we have Game in Australia, and they don't seem to be having any issues. o.o
  • AuthorityFigure - April 2, 2012 5:35 a.m.

    Seems to be on life-support at best.
  • Bossco - April 2, 2012 4:59 a.m.

    Good news for GAME, it's employees and the high street in general. I'd much rather get off my arse and go to the shop, rather than sit at home shopping online. Let's hope they can turn GAME's fortunes around and safeguard those jobs. I've always found their staff to be helpful and knowledgable. You can tell they are gamers themselves.
  • Kermit1970 - April 2, 2012 2:10 a.m.

    Tesco are already wading in with an advert in CVG. But this is good news for Game. I go to a supermarket to buy groceries not games. I go to a computer game store to buy games.
  • ithurtstopoop - April 2, 2012 9:09 a.m.

    and I go to a sex shop to buy ......

Showing 1-7 of 7 comments

Join the Discussion
Add a comment (HTML tags are not allowed.)
Characters remaining: 5000