GAME sold to private investors

GAME sold to private investors
A week after filing for bankruptcy, the UK-based retailer Game Group has been sold to private investors.

On March 26th, GAME's UK and Ireland operations were turned over to Pricewaterhousecoopers, the massive accounting firm.

The company is behind the brands of GAME Group plc, Game Stores Group Limited, Gameplay (GB) Limited, Game (Stores) Limited, Games Station Limited, Game (retail) Limited and Gamestation Limited.

Baker Acquisitions Limited, backed by private investment company OpCapita, has purchased the rest of GAME's UK assets, saving all 333 remaining GAME and Gamestations in the UK and 3200 jobs. 277 of the company's 610 stores had already been shuttered while 2,104 employees got laid off. Baker will also re-hire a "small number" of executives who were laid off last week.

The acquiring company is said to have purchased GAME for just 1, as the group will have to pay off 85 million in debt.

Says a Baker rep: "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."

Written by: Andre Yoskowitz @ 1 Apr 2012 19:53
acquisitions GAME Bankrupt game group
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    Trin - Making Digital Waves

    5.4.2012 07:12 #1

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