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 DS NEWS

High street retailer GAME saved by investment firm OpCapita

Rescued from the jaws of defeat

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Product: GAME news | Publisher: GAME
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High street retailer GAME, which went into administration last Monday, has been saved thanks to a last-minute £50 million buyout by turn-around investment company OpCapita.

OpCapita has bought 333 GAME stores around the UK and saved around 3,200 jobs. The investment company will also re-employ several senior head office workers who lost their jobs when the administrators took over.

"We strongly believe there is a place on the high street for a video gaming specialist and we have assembled a strong team to implement the programme of operational change needed," Henry Jackson, OpCapita's managing director, said.

"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."

GAME's suppliers, which are owed around £40 million, will receive nothing from this deal.

The Telegraph
 

Reviewer photo
Anthony Usher 2 April 2012
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