High street retailer GAME was bought by investment firm OpCapita, which specializes in purchasing troubled retailers, saving the remaining 333 stores and approximately 3,200 jobs.
£1 was the rumored price paid for the company due to OpCapita buying GAME’s debt which was on the upward end of £85 million, essentially allowing the previous owners off the hook.
Stated in a previous article, GAME was in danger of entering administration and when it did, the hammer dropped. 277 of it’s shops were immediately closed and it’s future looked non-existent until OpCapitap picked up the pieces.
It’s believed that OpCapita had to ensure new titles from big companies such as EA, Capcom, and Nintendo would be shipped. This was the red flag for GAME that it was time to either sink or swim.
GAME has been reborn and we will see what changes come from the new owners, OpCapita, and if they can really turn a company that was once hemorrhaging money, into a business that can survive against well established retailers and big name companies.