StoreClosures
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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.
Valencia Apple Store opening forces reseller to close
An authorized Apple Premium Reseller in Valencia, Spain -- Illa Digital -- closed its doors four weeks after an Apple Store opened just four blocks away. ifoAppleStore reports that competition from the Apple Store caused Illa Digital to start losing revenues almost immediately after the official Apple outlet opened for business, and finally laid off four employees before closing up shop earlier this week. There's a second reseller in Valencia, K-Tuin, located further away from the city center where the Calle Colón Apple Store and Illa Digital locations are, and it's apparently still in operation. ifoAppleStore notes that Apple executives have claimed for years that business for nearby resellers actually improves, but that resellers have "generally disputed that claim." To survive, they need to adjust their customer focus to remain relevant -- for instance, putting an emphasis on out-of-warranty repairs, selling used equipment, and so on. For Illa Digital, it looks like it's too late to change the focus and try a slightly different business plan.
