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But there remains the possibility that investment firm OpCapita, which recently bought electrical goods retailer Comet, could still buy Game out of administration with far fewer stores.....Read more here--: Game Group set for administration after shares suspended | This is Money
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Game Group set to become biggest High Street casualty since Woolworths as it calls in administrators
Game Group is set to become the next major retailer to disappear from the High Street as it called in the administrators today. The video games retailer, which has 1,300 stores worldwide and employs 10,000 staff, suspended its shares earlier when its management admitted the business has no value. The company is teetering on the brink of a collapse which could be the largest in the retail sector since the demise of Woolworths.
But there remains the possibility that investment firm OpCapita, which recently bought electrical goods retailer Comet, could still buy Game out of administration with far fewer stores.....Read more here--: Game Group set for administration after shares suspended | This is Money
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Stricken retailer Game Group, which went into administration last week, has been given a new lease of life by investment firm OpCapita. The firm will acquire Game's UK assets, retain its remaining 333 UK stores and safeguard more than 3,200 jobs. OpCapita has "no plans for any further store closures", the company said in a statement on Sunday, and will seek to rehire a "small number" of staff made redundant from Game's head office last week. Former Halfords Group chief executive David Hamid, now a partner at OpCapita, has been appointed chairman of Game. A chief executive is expected to be named shortly. Ian Shepherd held the role until last week, when he resigned with immediate effect after a two-year battle to turn the company around.
OpCapita acquired electrical retailer Comet from its owner Kesa Electricals last year for a nominal sum of £2. The financial terms of its Game acquisition have not been disclosed, but it is thought to have paid a nominal sum and taken on the company's debts....Read more here:---- game-group-assets-bought-by-opcapita