OpCapita
Latest
Game Iberia's 291 stores sold to UK buyer's 'sister company'
Game has effectively checked itself before it wrecked itself, first selling its UK operations and now selling its stores in Spain and Portugal, MCV reports. OpCaptia, the same investment company behind the UK deal, established Cherrilux Investments for the Iberian transaction and bought all 290 stores across Spain and Portugal.Cherrilux is a "sister company" to Baker Acquisitions, which bought the UK branch, and both businesses will most likely run independently but share revenue, MCV says. The sale saves 1,000 jobs, and Cherrilux "has no plans to close stores at Game Iberia and will continue to run the business as a going concern while evaluating the possible sale of the business."
OpCapita picks up GAME retail chain, plans to keep 333 stores open
The staff of UK video game retailer GAME's remaining 333 stores can breathe a collective sigh of relief today: investment firm OpCapita is buying the chain. "We are pleased to have reached agreement with the Administrator," declared managing partner Henry Jackson, "We strongly believe there is a place on the high street for a video gaming specialist and GAME is a leading brand in the £2.8bn market in the UK." The retailer's UK assets will be transferred to Baker Acquisitions Limited, an OpCapita funded company. The firm stated that it has "no plans for any further store closures," and that it hopes to safeguard the remaining 3,200 jobs the chain still has under its belt. Read on for the official press release.
