LazarusWatch: Game set to be bought by OpCapita
It looks as though there’ll be a fairly happy ending in the Game administration saga, with a buy-out by investment capital firm OpCapita due to be announced today. The 333 stores that remained open after the company fell into administration will be saved, along with 3,100 jobs – for now anyway. OpCapita recently bought Comet, and there have been store closures and cost-cutting since. It’s realistic to assume that strategy will be repeated within Game.
As one of the major creditors, it was rumoured that RBS were in pole position to snap up Game but in the end they’ve agreed to the OpCapita deal, saving us from the mind-boggling scenario of Game being the nation’s first part-owned gaming retail chain.
Richard Wilson, chief executive of games industry trade association Tiga, told the BBC: “It's important for the company to change to consumer spending habits, and it's really vital that Game also appeals to video game developers. Many video game developers in the UK are of course selling online as well.
"Game is going to have to change its strategy but that doesn't mean it's impossible, and the fact that Game has got this new backing behind it, this new management, I think that's all for the good."