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OpCapita bids again for Game Group

Private equity firm Opcapita has submitted another bid to acquire parts of the collapsed video games retailer Game Group out of administration according to the Independent.

GENERAL MERCHANDISE

OpCapita bids again for Game Group

Private equity firm Opcapita has submitted another bid to acquire parts of the collapsed video games retailer Game Group out of administration according to the Independent.

The turnaround specialist, which had its initial offer for the group rejected by Game’s lenders last week, is believed to be interested in buying the remaining 333 Game stores.

Game Group went into administration earlier this week after the retailer faced a £21 million rent bill last Sunday.  Administrators PwC have announced the closure of 277 Game shops and made 2,089 staff redundant.

A consortium of existing lenders led by the Royal Bank of Scotland is thought to be continuing to work out a plan to buy a slimmed-down version of the retailer out of administration.

In addition, rival games retailer GameStop is believed to have made a bid to acquire Game's Iberian and Czech Republic businesses.

Game Group’s demise came after a series of profit warnings and refusal
of some suppliers to continue providing new games to the retailer.

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