The new owner of Britain’s Game and Gamestation stores has reaffirmed its belief that high street games retailing has a future.
The UK assets of Game Group – which last week shut down 277 shops – were yesterday sold to Baker Acquisitions, a business set up by the investment partnership OpCapita, which last year bought Comet for £1.
“There is a huge amount to do but we look forward to the challenge of restoring Game’s fortunes in partnership with its employees and suppliers,” said OpCapita managing partner Henry Jackson. “We strongly believe there is a place on the high street for a video gaming specialist.”
Baker said it had no plans to close any of the remaining 333 Game and Gamestation stores, which between them employ 3,200 staff. It plans to rehire a handful of head office workers made redundant last week.
Game Group filed for voluntary administration two weeks ago following a poor sale performance during 2011 and increased pressure from online retailers and the supermarkets. Publishers including Activision and Nintendo had stopped supplying the business after refusing to accept new credit terms.
OpCapita said it had assembled a team on industry operators to make the necessary changes to the business.