OpCapita, a private investment firm and owners of Comet, have secured a deal for the UK operations of GAME where Baker Acquisitions, a firm established in November 2011 will continue to run the remaining 333 stores and will keep on the remaining employees.
"We strongly believe there is a place on the high street for a video gaming specialist and GAME is the leading brand in a £2.8 billion market in the UK," commented Henry Jackson, MD of OpCapita.
The news is bad for those who have already lost their jobs as they are looking for compensation as Baker are not responsible for their situation, and it is also bad news for investors, who are still hoping to recoup some of their capital.
Former Gamestation managing director Martyn Gibbs is returning to the retailer as chief executive, and he is joined by David Hamid (Halfords, Dixon) as chairman.
"I am delighted to be leading GAME back to success," said Gibbs. "Our immediate priority is to help the GAME and Gamestation teams, so they can give our customers a great Easter in our stores and websites."
The overseas operations of GAME are still up for sale, with several parties interested, and this could possible free some money for former GAME investors.
Remains to be seen if the new GAME can regain the confidence of the major publishers and once again carry all the important releases.