PS3 News: GAME Saved By Purchase, Nearly 3,200 Jobs Now Safe - PS3 News

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GAME Saved By Purchase, Nearly 3,200 Jobs Now Safe

Breathe easy, GAME employees.

If European retailer GAME couldn't find an interested buyer, it was almost inevitable that they'd have to shut down eventually. They had already been forced to close over 1/3 of their store locations.

But thankfully, as reported by Eurogamer, Administrator PwC has confirmed that OpCapita has purchased GAME UK. Baker Acquisitions Limited, "an entity advised by private investment company OpCapita," has picked up GAME's assets, and that includes all 333 UK GAME and Gamestation stores that are still open. This officially takes the previously embattled business out of administration, as Baker said they'll provide the capital necessary "to trade on a normalized basis." Hence, nearly 3,200 jobs have been saved.

After paying off £85 million in debt, the purchase price came in at £1. Said OpCapita managing partner Henry Jackson:

"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."

So we start the week with some good business news. :)

Tags: game, game stores, game uk, game closing

4/1/2012 8:21:08 PM Ben Dutka

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Comments (11 posts)

ZettaiSeigi
Sunday, April 01, 2012 @ 9:24:58 PM
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I wish them the best of luck from this point forward. It's never great news to see business closing down. I really hope that whatever problems plagued the old GAME would be addressed by its new management.

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bebestorm
Sunday, April 01, 2012 @ 9:35:03 PM
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Hopefully everything works out for them.

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WorldEndsWithMe
Sunday, April 01, 2012 @ 10:24:06 PM
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It would be weird to see a game store that isn't Gamestop.

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Xombito
Sunday, April 01, 2012 @ 11:44:05 PM

I know right? I didn't even know who GAME was until I fully read this article. At first I thought they were a developer, especially with news about some devs closing.

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Gabriel013
Monday, April 02, 2012 @ 1:31:08 AM
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I'm glad they've been saved but where I live they had 5 stores within a 15 mile radius and ALL of them have closed in my city.

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Qubex
Monday, April 02, 2012 @ 4:05:23 AM
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That is great to hear... keep on truck'n!

Q!

"play.experience.enjoy"

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___________
Monday, April 02, 2012 @ 4:28:52 AM
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sweet!
hopefully the buyers know what there doing though otherwise there going to find themselves in the same position in a few years time.
biggest problem with these is they have so many stores so close together.
my local retailers for instance we have 4 shopping centres which are closest to me and they have ZERO game retailers in them!
then you go to further shops further away and every one of them has at least 3 game shops in them.
wouldent common sense be to open a shop in one of those centres closer to me where there is zero competition?
thats exactly why these places are going bankrupt, they open stores where theres 10 competitor stores, and where theres 0 stores they avoid.
what the?
i mean whats the point of having a EB, game, JBHIFI, DSE, kmart, myer, david jones, target, toys R us, blockbuster, AND gametraders all in the one shopping centre?
no wonder retailers are struggling!

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linkinpark0707
Monday, April 02, 2012 @ 4:29:52 AM
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it is good news that their not closing down for good, my local store was fortunate not to shut its doors, as their is no other gaming stores around to buy games apart from supermarket's which only stock a hand full of games like AAA titles. was shocked to see how much the company was brought for, but with them paying off the debt aswell its understandable one pound to ppl across the pond its UK £1 = US $ 1.6043, i hope the New management will succeed & not make the same mistakes. i do feel for those who lost their jobs as britain seems to be getting worse as the Recession continue's

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robinhood2010
Monday, April 02, 2012 @ 5:49:03 AM
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A shame not all of us kept our jobs :(
The majority of the team from my store are all signing on this week. A bleak outlook at the moment.

Last edited by robinhood2010 on 4/2/2012 5:50:04 AM

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Dukemz_UK
Monday, April 02, 2012 @ 7:09:03 AM
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If they could employ people who aren't 360 fanboys, I think they'd do much better. The amount of times I'd be browsing in GAME, inadvertently listening to a conversation between a GAME employee and a potential customer being told how they'd be so much better off buying a 360 instead of a PS3, based on misinformation and fanboyism... very unprofessional!
Also people have realised that their prices are unrealistically high compared to online stores.
Sad people are losing their jobs... I hope those who remain learn to clean up their act.

Last edited by Dukemz_UK on 4/2/2012 7:10:47 AM

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bamf
Friday, April 06, 2012 @ 10:15:11 AM
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Its funny you should say Dukemz_UK about GAME employees being 360 fanboys. Where I live GAME and Gamestation lived next door to each other as competitors and I always found Gamestation to be better on price and more helpful employees who where gamers. I never like GAME and still don't. Ever since GAME took Gamestation over, Gamestation was finished for me. Gamestation employes became 360 fanboys. It was almost as if they have been employed to promote the 360? Also the pricing structure had changed to be similar to GAME.

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