If you have been keeping up with your tech and gaming news lately you may know that GAME has been in administration for around a week now, which lead to the closure of 277 stores nationwide, but know the store has been saved by private investment firm OpCapita, things are looking better.
So GAME has been bought out, for how much you ask? 1 whole pounds which may seem tiny for a company as big as GAME but minus there current £85 million pound debt and OpCapita are left with some pretty hefty bills to pay for the fee of £1, but even that hasn’t scared the investment firm away, who are extremely confident they can turn GAME around and get it making a profit once more:
“We are pleased to have reached agreement with the Administrator. 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.”
There is one part of the deal that we should not however, only the remaining 333 stores have been purchased which means the 277 stores GAME closed earlier will most likely remain closed, this is still amazing news for being a huge fan of GAME.
Are you pleased that GAME has been saved?