Game (UK Retailer) Discussion

[Mollfie]

Yep, sucks for former employees. My friend and ex-manager is now unemployed so is taking a few weeks to just spend with his son and girlfriend while looking for a new job and sorting things out. It's going to be hard for a lot of people. The last week was spent boxing up all the left over stock, their stores stock was sent over to the Gamestation just round the corner.

[Bisylizzie]

http://www.shoptonews.net/2012/03/31/opcapita-reported-to-have-bought-game/

So, ehh... Opcapita have apparently bought GAME for a grand total of...

£1

But taking on their £85 million debt as well.

Now, as long as this isn't going to end up being a "Lol, April Fools!" thing(which I can't imagine it will, seeing as Opcapita DID make a bid for them before...), this could mean that game stores stay open. But still, this is a bummer to those who have already lost their jobs due to the original bid having been turned down, am i right?

[Detective Shadzter]

GAME is saved as deal is agreed

by Ben Parfitt

about an hour ago

A deal has been agreed that has tonight seen GAME exit administration, MCV believes.

Former front-runner turned write-off OpCapita has in a surprise development emerged as the victor, with its re-jigged offer for the trimmed-down GAME offsetting the doubts that saw its original approach shunned by lenders.

OpCapita has reportedly paid a nominal fee to acquire the chain.

However, the rescue deal applies only to the UK business – GAME's overseas operations remain in trouble and remain up for sale, with Hilco and GameStop supposedly still in the hunt to grab certain territories.

OpCapita has already engaged in discussions with UK suppliers, having identified this as a key element in quickly getting GAME and Gamestation stores back up to speed with the market. It is not known whether supply agreements have been reached with every supplier, though some parties are understood to already be officially back on board.

A new management team will also be put in place first thing tomorrow.

It also seems that the deal will safeguard all of GAME's remaining 333 stores and 2,814 UK staff – for the time being at least, though stores that have closed this week will not be re-opened.

An official announcement will be made tomorrow.

http://www.mcvuk.com/news/read/game-is-saved-as-deal-is-agreed/093718

http://www.shoptonews.net/2012/03/31/opcapita-reported-to-have-bought-game/

So, ehh... Opcapita have apparently bought GAME for a grand total of...

£1

But taking on their £85 million debt as well.

Now, as long as this isn't going to end up being a "Lol, April Fools!" thing(which I can't imagine it will, seeing as Opcapita DID make a bid for them before...), this could mean that game stores stay open. But still, this is a bummer to those who have already lost their jobs due to the original bid having been turned down, am i right?

It's not an April Fool's. The £1 thing first popped up from The Telegraph's report about 4 or 5 hours ago. Whether it's true or not remains to be seen.

[bmn]

A £1 sale price for an insolvent company is normal. It's mostly symbolic but an important part of the contract, as the act of giving the current owner something (it's called consideration, and could be a penny, or doesn't even have to be currency at all) to buy it binds the contract.

Essentially, in English law both sides must give something to the other to make a contract binding, so to meet the requirement the buyer gives something of almost no value. £1 is the most common sale price in this situation in the UK.

[jennytablina]

I imagine the news was leaked a little early so people don't call April Fools if announced tomorrow morning - it's bad timing but eh, it'll be an April Fool's to remember for the company.

Sounds like they are bringing in new management as well so odds are this isn't simply a case of carrying on as they were before (in all honesty sounds like Comet's made changes too) - OpCapatia has to be a better option than letting RBS run the show, which would only bring back the same issue of management being too focused on the bottom line (even more so as RBS sure as heck would not appoint anyone with gaming know-how right away)

[Katzii]

...I wonder if ShopTo will be returning the reward cards of those who were tasteless enough to take them up on their promotion? Although it would serve anyone right to have to buy another reward card for being so pathetic and fickle.

[Detective Shadzter]

Game Group shops sold to OpCapita

http://www.bbc.co.uk/news/business-17578451

Yay! Glad the remaining staff and stores have been saved

[TheOcelot]

Yes this is really good news - good luck to them.

[Detective Shadzter]

David Hamid becomes new GAME exec chairman

http://www.mcvuk.com...chairman/093723

[Velotix von Skruviktorrius]

I'm only fine with this if the new GAME doesn't suck shit like the old one.

Otherwise I'd rather have seen them go under - and yes I'm aware that would put thousands of people out of work and it's not their fault, but old GAME was literally cancerous on the UK industry and I'm glad they bought it as painfully as possible.

[Detective Shadzter]

GAME: A history in headlines

http://www.mcvuk.com...eadlines/093744

Martyn Gibbs is new GAME CEO

http://www.mcvuk.com...game-ceo/093738

I visited the Gamestation in Stourbridge after work earlier this afternoon and a staff member told someone with a gift card that they should hopefully be re-activated tomorrow. The guy who served me also told me that they should be getting new stock in over the next couple of weeks. All of the staff seemed much happier now that they're out of administration, which was nice to see

[Scott]

GAME: A history in headlines

http://www.mcvuk.com...eadlines/093744

Martyn Gibbs is new GAME CEO

http://www.mcvuk.com...game-ceo/093738

I visited the Gamestation in Stourbridge after work earlier this afternoon and a staff member told someone with a gift card that they should hopefully be re-activated tomorrow. The guy who served me also told me that they should be getting new stock in over the next couple of weeks. All of the staff seemed much happier now that they're out of administration, which was nice to see

And thus the darkness...the darkness that plaqued the gaming industry was no more.

All was good

[Mollfie]

JezMM took this photo when we went to Canterbury on Friday

Sorry but this store is closed, your nearest specialist gaming store is Gamestation in Hell

Edited April 2, 2012 by Mollfie

[Danj86]

I haven't checked my locals in person yet, but my brother read that our local GAME is one of the few that is still open. While Gamestation isn't.

I've not really been following the story, so I don't know any new details...

[Detective Shadzter]

UKIE expresses relief at GAME acquisition

http://www.mcvuk.com...uisition/093749

GAME applies for Stock Exchange cancellation

http://www.mcvuk.com...tten-off/093751

[Detective Shadzter]

Glad to everything is working again in GAME and Gamestation stores.

Witcher 2 coming to GAME as new releases return

http://www.mcvuk.com...s-return/094073

First Star Wars Kinect and now Witcher 2. Good to see things are slowly getting back to normal with new releases.

[Badnik Mechanic]

I bet you any money that you don't see any changes in the future. Prices will still be stupidly high, the stores will have as much identity as a cement mixer and the reward scheme will still be crap.

[Katzii]

I still don't regret using my gift cards. Any of the games I would have wanted to use the cards on haven't been released in GAME or Gamestation, and who knows how long they will be valid for?

[Detective Shadzter]

Pandora's Tower heralds Nintendo's return to GAME

http://www.mcvuk.com...-to-game/094400

GAME sells Spanish and Portuguese stores

http://www.mcvuk.com...e-stores/094405

EA re-boards the GAME train

http://www.mcvuk.com...me-train/094462

[Scott]

I think by this time, no one cares anymore

I mean, now that theyr'e saved, well theres no reason to worry anymore and I havent heard a peep about Game/Gamestations closure situation since.

[Detective Shadzter]

I think by this time, no one cares anymore

I mean, now that theyr'e saved, well theres no reason to worry anymore and I havent heard a peep about Game/Gamestations closure situation since.

I thought people might like to know that Nintendo and EA's games have/are returning to GAME and Gamestation in the UK. The Spanish and Portugese stores now also being sold to OpCapita will be of relevance to our forum members in those countries, too.

[Blue Blood]

I care, and am disappointed that this shitter of a store is being supported again.

[Katzii]

Problem is, it's great that GAME is getting supported with companies who formerly stopped doing so, but they're still charging crazy prices. Pandora's Tower limited edition can be bought a good tenner cheaper elsewhere, and most everyone who wants Mass Effect 3 either has it or, again, can get it cheaper elsewhere.

[Detective Shadzter]

Just got this e-mail under an hour ago saying the Gamestation store in Stourbridge near where I work, and where I just shopped this morning, will be closing down after tomorrow. Just phoned them about 15 minutes ago to confirm it, and the staff say they only just found out this morning. :-/ I just served one of the girls from there at my Co-op yesterday, and she was telling me how she's had a bit of bother because she's not met her targets, but I didn't expect a store closure.

I've only been shopping there regularly for about 3-4 months now, popping in on my working days, but I found it to be a great store. The staff are an awesome bunch of people, and so I wish them luck in their future. I wonder if any more store closures are happening.

[Katzii]

Seems they're not out of the woods just yet, then. I'm still saddened that we lost our Gamestation in the first wave.