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Retailer Game's UK stores rescued by Comet owner
April 1, 2012 / 4:00 PM / in 6 years

Retailer Game's UK stores rescued by Comet owner

* Comet-owner OpCapita buys troubled firm’s British stores

* Deal saves nearly 3,200 jobs

LONDON, April 1 (Reuters) - Video games seller Game Group’s British stores were sold to investment firm OpCapita on Sunday, safeguarding nearly 3,200 jobs, the collapsed retailer’s administrator PricewaterhouseCoopers (PwC) said.

The private equity firm, which bought electrical goods retailer Comet last year, will buy all 333 of Game’s British shops that have remained open during its administration.

It will also seek to re-employ a small number of staff who previously worked at Game’s head office but received redundancy notices last week, it said in a joint statement with PwC.

OpCapita managing partner Henry Jackson 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 2.8 billion pound ($4.5 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.”

Game Group collapsed into administration on March 26, with the immediate closure of 277 of its stores in Britain and Ireland and 2,104 staff made redundant.

The rescue deal agreed on Sunday does not include Game’s international assets, PwC said.

It did not disclose the value of the deal.

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