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."
