RSS Feed
April 2nd, 2012 
FAKE NEWS for the Zionist agenda
By
Rebecca Seales
12:50 EST, 1 April 2012
|
05:08 EST, 2 April 2012
Almost 3,200 jobs at struggling retailer Game Group were saved yesterday as part of the business was sold.
OpCapita, which recently bought electrical goods retailer Comet, has purchased 333 stores, administrators revealed.
The UK operations of the chain, which trades as Game and Gamestation, went into administration last week, triggering 277 shop closures and 2,104 redundancies.
New Game: Investment firm OpCapita has bought 333 branches of Game, safeguarding almost 3,200 jobs
PricewaterhouseCoopers confirmed the sale, but would not reveal the financial details of the transaction.
It is understood a nominal amount was paid for the assets.
Henry Jackson, managing partner of OpCapita, said: ‘We strongly believe
there is a place on the high street for a video-gaming specialist and
Game is the leading brand in a £2.8billion 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.’
Long decline: Game shares have struggled for the past year as the retailer battles to win over shoppers
The real cost will be taking over the company’s £85million debts.
OpCapita was among a number of potential bidders for the remaining assets of Game.
They also included a consortium of banks and rival U.S. computer game chain Gamestop.
OpCapita, a London-based private equity firm which bought Comet for £2,
specialises in investing in and turning around the profitability of
stricken retail chains.
Game’s demise followed a string of profit warnings and the failure of
nervous suppliers, including leading names Electronic Arts and Nintendo,
to go on providing the latest games, further damaging poor sales.
-
Michelle gets slimed: First Lady caught in green goo’s line…
-
Princess Diana and her barefoot boys: Lord Snowdon portrait…
-
‘OJ is innocent’: Private investigator claims Simpson’s SON…
-
Harry the hungry hippo gives his happy handler a loving lick
-
$105million is all MINE: McDonald’s worker scoops Mega…
-
Babies treated in the womb for obesity: Overweight…
-
Stunning photos show TEN-STORY tree house that makes Swiss…
-
When computers were sexy: Hilarious vintage ads from the…
-
Heroic Harry saves life of unconscious rival after dramatic…
-
Stunning pictures of men and women who were born into…
-
Three’s a crowd: Top health insurance CEO fired from…
-
Father shot wife dead before killing himself after…
Share this article:
Here’s what other readers have said. Why not add your thoughts,
or debate this issue live on our message boards.
The comments below have not been moderated.
-
Newest -
Oldest -
Best rated -
Worst rated
It makes me laugh that there’s people out there who invest money in opening up stores to make money, yet it just can’t work because of the cost involved.
– Not often wrong (trust me….), Olde England, 1/4/2012 22:57________You sit back and laugh at people who take risks and open stores? How many jobs have you created? Lots of businesses fail but good luck to them, at least they are trying
Report abuse
Just watch what happens. Jobs have not been ‘saved’. An investment company has bought some of the assets. I’ll give odds of ten to one that none of the ‘assets’ will be trading as games retailers within five years.
Report abuse
They cant even compete with gamestation or grainger games! Trades ins are rip off, i had game for a week – assassins creed brotherhood which had only been out a week and i paid £38 they offered me £6!! Asda offered me more!
– steve, liverpool merseyside, 1/4/2012 19:43——————————-Game own gamestation so will offer the exact same prices and grainger games are independent retailers based entirely in the north east so comparing them to a national company is laughable at best. Until game start lowering their prices to compete with online shops then their really is no point in saving them.
Report abuse
I will stick to online and the PSN store, they never said they were closing my local store and me thinking their spring cleaning sale wasn’t a “Closing Down Sale”. Game have lost my custom to Play, Amazon and Ebay forever, they also only gave me £2.99 for Assassins Creed BH and £8.99 for Driver San Francisco both in mint condition.
Report abuse
Really pleased that 3000 jobs have been saved, but Game have a huge amount of work to do to get their customers back through their doors! Firstly your prices are astronomical you cannot continue to price the way you have done, and secondly your stores need a major overhaul, you have no idea how clinical and boring they are, neon lights and white is not the future of gaming buying a game should be like walking into a record store ( not like HMV! )
– Kara, Essex, 02/4/2012 . 3000 jobs have not been saved, these management companys will close shops, reduce the staff in store, will strip workers of there priverleges and force new contracts on staff, and will reduce pay to the bare minimum. prices will rise
Report abuse
“The real cost will be taking over the company’s £85million debts.” Well OpCapita will just use the assets as collateral for new loans then pay themselves a fortune and try to brazen it out for a while. They will walk away with big payouts and the creditors will still lose everything – the only difference will be that there will be more creditors 🙂 The game is over for Game and it has been for quite some while. It isn’t the best place to buy games or hardware on the Highstreet and it is far far worse than the net. Oh and by the way Game’s website is way overpriced and rubbish too. It stinks.
Report abuse
I’m glad for the people’s jobs that have been saved, but I don’t understand why somebody bought these failing stores, when the next generation of consoles come out next year! Play station are saying it won’t be able to play second hand games? That’s a big part of the trade in retail lost to game? And Xbox say it won’t have a physical disc drive; all Xbox content will be downloadable only? Once again no trade in profits and no physical disc profits, this will hit game stores Hard! I can’t see any game shop being able to make money out of selling just Nintendo /psp and pc games.
Report abuse
You will probably find that not all of these jobs will be saved, even though they have been bought out. The new owners will no doubt “streamline” in order for the company to make profit as at the moment it is too bloated, especially when some towns have more than 2 stores. It is good to hear that they have been given a second chance and not all have/will be out of work
Report abuse
Glad to hear that .
Report abuse
Really pleased that 3000 jobs have been saved, but Game have a huge amount of work to do to get their customers back through their doors! Firstly your prices are astronomical you cannot continue to price the way you have done, and secondly your stores need a major overhaul, you have no idea how clinical and boring they are, neon lights and white is not the future of gaming buying a game should be like walking into a record store ( not like HMV! )
Report abuse
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
Posted in 
Tags: 
