UK Retailer GAME saved - for now...

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The investment group, Opcapita, will announce on Sunday it is buying the rump of the troubled Game Group out of administration, the BBC understands.

The deal will keep open 333 stores and save 3,100 jobs.

Half a dozen banks, led by Royal Bank of Scotland, who are owed £85m, have approved the takeover, says BBC business editor Robert Peston.

Last Monday the video game retailer went into administration, with 277 stores closing down immediately.

Administrators PricewaterhouseCoopers (PwC) also announced 2,104 staff would be made redundant but the remaining 333 stores were kept open as they searched for a buyer for the business.

The retailer had suffered from high fixed costs and an ambitious international expansion.

Its business has been hit by competition from online retailers.

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Source: http://www.bbc.co.uk/news/business-17575500

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"UK Retailer GAME saved - for now..." :: Login/Create an Account :: 14 comments

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tommyberryPosted:

all of my local ones closed down

TTG_M4TRIXPosted:

Im saved my local game shop is staying open >:D

Solidus97Posted:

I hope the Irish GAME Stores are still open

TheCheeseyNINJAPosted:

iLewis Glad they are not gone, I have like $300 on my cards from there. Time to spend it in the sales.

you cant spend gift cards at game anymore!
but you should keep it because game said to me that they could be in use at a later date

-March-Posted:

Game is The best game shop i always get my games from their.

ZuulPosted:

Thank god it hasn't gone (for now). It's the only good game shop in my area that has good deals.

iLewisPosted:

Glad they are not gone, I have like $300 on my cards from there. Time to spend it in the sales.

-Robin-Posted:

glad to see they are back. hope they recover and stay away from a situation like this again.

johnboy89Posted:

im glad they haven't gone bust it a very good store they have everything you need for gaming i go in allot and see what offers are on and buy allot of games it one of the cheapest places for games and all the staff are helpful there the only place that do open night for top rated games like halo call of duty and over games good luck to game hope all goes well.

kelly2000Posted:

My bro works in game in N.I but the deal has not been accepted and if it dose be accepted game will be bought for 1.00. This is really bad news for some workers as some people will loose there jobs not sure about my bro as there shop is like second or something.


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